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Minister: Food producers, retailers to fix prices to fight inflationPrime-TASS News (Russia) MOSCOW, Oct 15 (Prime-Tass)—Major Russian food product producers and retailers have agreed to fix their prices at the current level, Agriculture Minister Alexei Gordeyev told reporters Monday following a meeting of officials devoted to the food products market. «They're ready to make commitments to stabilize prices and avoid speculative deals,» Gordeyev said. At the meeting, Prime Minister Viktor Zubkov instructed Russian governors and mayors to find out the reasons behind the recent surge in food product prices in Russia and implement measures to resolve the problem. Global farm product prices have soared recently amid growing demand in emerging economies, including China and India, and the biofuel industry's expansion. Earlier this month Economic Development and Trade Minister Elvira Nabiullina said that she believed the growing food prices were behind the unexpectedly high consumer price inflation in Russia. She said the inflation rate was likely to exceed 9% this year, above the government's target of 8%. Sergei Ignatyev, chairman of the Central Bank of Russia (CBR), said last week that consumer prices had risen 0.5% from October 1 through October 7.
Consumer price inflation amounted to 7.5% in January-September, the Federal State Statistics Service reported earlier
Date: 15.10.2007 Leave your comment
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