Finance

Finance

Food prices will remain high in 2022-BSTDB

15 February 2022 11:07 (UTC +04:00)

Food and energy prices, which rose in 2021, have become one of the causes of global inflation, said Archil Imanishvili, an analyst at the Black Sea Trade and Development Bank (BSTDB), APA reports citing Scoop Trade.

If the further rise in prices for energy resources and products continues, inflation in the Russian Federation and other countries will not stop.

"According to the IMF forecast, the prices for these goods on international markets this year will be moderate. This means that they will not grow in all countries, including Russia. But the consequences of last year's price surge will continue to affect inflation, so food prices will remain high in 2022," Imanishvili was said.

The cost of groceries in 2021 increased by 35-50% worldwide. Prices for wheat, meat, sugar, oil rose. In Russia, their prices have risen by 12%, fuel has risen in price by 11%. Inflation in the country was at the level of 8.4%.

Bakery products in 2022 may rise in price by 8-9%, President of the Russian Guild of Bakers and Confectioners Yuri Katsnelson said earlier.