World meat industry news

Annual inflation in the Russian Federation from November 8 to November 13 accelerated to 7.16% from 6.99% a week earlier. This is stated in the review of the current price situation prepared by the Russian Ministry of Economic Development.

"During the period from November 8 to November 13, 2023, inflation in the consumer market slowed to 0.23%. Year-on-year price growth was 7.16%. In the food products segment, the rate of price growth decreased (0.42%) due to slower growth prices for food products excluding fruits and vegetables to 0.22%. For fruits and vegetables, the rate of price growth remained at the level of last week (2.61%). In the segment of non-food products, price growth also slowed down to 0.07% against the background of a decrease in growth rates prices for passenger cars. In the service sector, the growth rate of prices amounted to 0.21% due to the resumption of increases in the price of air tickets for domestic flights,” the review notes.

On September 22, the Ministry of Economic Development published an updated forecast of the socio-economic development of the Russian Federation for the period 2024-2026. According to the document, the ministry raised the forecast for inflation in the Russian Federation in 2023 from 5.3% to 7.5%.