The Russian government is discussing the introduction of price caps for essential food products, Deputy Prime Minister Arkady Dvorkovich was quoted as saying Tuesday.
A slump in the ruble and a ban on the import of some Western food products last year have led to a surge in inflation, hitting consumers. Inflation is not seen easing in 2015 and will be at 12 percent by the end of the year, the Economic Development Ministry forecasts.
News agencies RIA Novosti and Interfax quoted Dvorkovich as saying that there would be possible restrictions on raising retail prices for socially significant products. "We will see how to efficiently place [restrictions] into law," he said.
The government may also give the state competition watchdog more power in enforcing existing retail market regulations, RIA reported Dvorkovich as saying. It did not provide further details.
Dvorkovich's comments follow a series of store inspections by the Prosecutor General's Office across Russia aimed at exposing unjustified price increases. However, top grocery chains have said increases in their shelf prices have lagged the broader inflation rate.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
