The Ministry of Agriculture denies information about a strong increase in bread prices in the fall – Kommersant
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The Ministry of Agriculture predicts that the dynamics of bread prices in 2023 will not exceed the level of general inflation. Information about a significant increase in bread prices in the near future was called false by the ministry. Earlier, a 10% increase in the price of bread in autumn was reported by the Telegram channel Base.
“The disseminated information about a significant increase in the price of bread has nothing to do with reality,” TASS quoted an excerpt from the ministry’s message. Prices for flour from producers are now about 15% lower than a year earlier, the Ministry of Agriculture said. Self-sufficiency in grain in Russia, according to him, significantly exceeds domestic needs (185.4% at the end of 2022).
“The current gradual increase in grain prices will not have a significant impact on the cost of bread and bakery products,” the ministry explains. The main share of production costs in this segment falls on other components, such as equipment, logistics and electricity, they noted there.
One of the main reasons for the jump in bread prices is Russia’s withdrawal from the grain deal, Baza reported, citing sources among producers from different regions. The collapse of the ruble and sanctions were cited as other reasons.
According to Rosstat data from January 2022 to August 2023, collected by the portal inflation, the most significant increase in prices for 1 kg of bread during this period occurred in March 2022. Then the cost was 80.83 rubles, inflationary growth was 4.39%. In August 2023, the price increased by 0.13%, to 86.18 rubles. per kg.
Annual inflation will be 5-6.5% in 2023 and return to 4% in 2024, predicted July 31 Bank of Russia. According to the Central Bank on August 7, the annual inflation rate increased to 4.4%, demonstrating increased inflationary pressure. In order to return inflation to 4% in 2024 and stabilize it near 4% in the future, the regulator decided raise key rate from August 15 to 12% per annum.
Read about how prices change after the grain deal in the publication of the Money app. “Money Grains”.
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