World meat industry news

Inflation in Russia in annual terms slowed to 13.49% on October 3 from 13.71% a week earlier, according to the Ministry of Economic Development's review "On the current price situation."

"In the week from September 27 to October 3, 2022, a moderate price increase of 0.07% is recorded. In annual terms, inflation continued to slow down to 13.49% year-on-year," the document says.

According to the ministry, in the food segment, prices increased by 0.15% with a seasonal increase in the cost of fruits and vegetables, while non-food prices slowed down.

"For tourism and regulated services, the price reduction continues (minus 0.1%) with cheaper air tickets for domestic flights and services of sanatoriums," the Ministry of Economic Development added.

According to the forecast of the socio-economic development of the Russian Federation, this year inflation in the Russian Federation will be 12.4%, in 2023 it will slow down to 5.5%, and in 2024-2025 it will return to the target of 4%.