World meat industry news

Annual inflation in the Russian Federation in the period from November 14 to November 20 accelerated to 7.28% compared to 7.16% a week earlier. This is stated in the review of the current price situation prepared by the Ministry of Economic Development.

“During the week from November 14 to November 20, 2023, in the consumer market, inflation slowed to 0.20%. Year-on-year price growth was 7.28%. In the food products segment, the rate of price growth decreased due to a slowdown in price growth for fruits and vegetables. For food products, excluding fruits and vegetables, the rate of price growth remained almost at the level of last week. In the segment of non-food products, prices did not change: the growth in prices for passenger cars slowed down, the decline in prices for electrical and household appliances resumed. In the service sector, the rate of price growth decreased to 0.16% due to a slowdown in the rise in 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%.