August 27, 2023

It's (Maybe) the Economy, Stupid


It's (Maybe) the Economy, Stupid
Balanced meal. The Russian Life files.

A recent report from Russia's Ministry of Industry and Trade, published in Izvestia, said that the prices of many "socially important goods," including produce, are at "normal levels."

Saying the country is seeing a strong harvest and increased local production, it alleged that meat and produce prices are at acceptable levels. The report highlighted a "borscht set" (cabbage, carrots, onions, and potatoes) as an example of produce that had higher prices earlier this year but which have settled in recent months.

While it is possible that some food prices have decreased, or at least stabilized, the report should be read with some skepticism. Russia's economy has seen huge shocks in recent months, a consequence of its so far 17-month-long War in Ukraine. These have ranged from capital flight to closing businesses, not to mention increasing international isolation brought on by sanctions.

 

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