World meat industry news

In Russia, food inflation has reached double digits, said Governor of Central Bank Elvira Nabiullina during a speech in the State Duma.

‘We had low inflation, but not for so long - only for four years. Now it is twice as high as our target, and food inflation, unfortunately, is already double-digit,’ she said.

According to Rosstat, in October 2021, the growth of food prices in the country accelerated to 10.89 percent in annual terms.

According to the expectations of the Bank of Russia, at the end of this year, inflation will be in the range of 7.4 to 7.9 percent. Next year, according to Nabiullina, the process will slow down to 4-4.5 percent due to the ongoing monetary policy.