Russia to start analyzing global food prices for local estimates

MOSCOW, May 13 (PRIME) -- First Deputy Prime Minister Andrei Belousov has ordered the government to accelerate creation of a mechanism of analysis of global prices to estimate their influence on the Russian food prices on Thursday, a statement on the government website read.

The food prices are stabilizing but eggs, buckwheat, white bread, sunflower oil and sugar demand special attention, the government said.

"The year-on-year price growth slowed down by 1 percentage point to 6.6% as of May 4, 2021 from 7.6% in March," the government said.

Fruit and vegetable prices rose by 1%, the rest of food by 0.7% in the period.

The measures to cap the price growth include loans to the sugar producers at 1–5% for beetroot purchases, subsidies to the flour producers and bread bakers. The grain and oil price regulation payments are to be introduced soon.

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