World meat industry news

The Ministry of Industry and Trade of the Russian Federation does not predict a jump in food inflation by the end of the year, Secretary of State, Deputy Head of the Ministry of Industry and Trade of the Russian Federation Viktor Evtukhov said in an interview with RIA Novosti.

“I hope not. So far, we see that deflationary processes have begun to a greater extent,” he answered the corresponding question.

Yevtukhov also said that large retailers continue to limit the trade margin on socially important goods. In his opinion, it is expedient to continue such practice further, but it is not planned to fix it in a normative manner. "I believe that we have found a way to negotiate with trade - so that they comply with certain rules - without strict regulatory and imperative consolidation," he stressed.

In June of this year, Rosstat recorded food deflation for the first time since August 2021. Food prices fell by 1.1% in June, and deflation increased to 1.53% in July. According to the latest data from the Ministry of Economic Development, since the beginning of the month by August 15, it amounted to 0.69%. In general, the ministry expects that inflation in the Russian Federation in 2022 will be 13.4%, in 2023 - 5.5%.