Food prices in Russia rise nearly 4 times faster than in EU in June - Rosstat

Food prices in Russia rose by 1.9 percent in June 2012, while in the European Union they went up by 0.5 percent, the Federal Statistics Service (Rosstat) reported. The highest food price inflation in the EU in June compared to the previous month was 1.5 percent in the Czech Republic, 1.3 percent  in Slovakia and 1 percent in Sweden. Food prices fell in some EU countries, including by 3.5 percent in Cyprus, 2.3 percent in Bulgaria and 1.2 percent in Slovenia.

In the first half of 2012, the highest food price inflation was 7 percent in Hungary, 6 percent in Slovakia, 5.7 percent in Poland and 5.4 percent in the Czech Republic, while in Cyprus food prices dropped by 5 percent. Food price inflation in Russia was 4.8 percent in the first half of 2012, more than twice the average EU rate of 2.3 percent.

Compared to December 2011, the biggest price increases in the EU were for fruit and vegetables, sugar, jam, honey, chocolate and candies.

The steepest price increases for fruit were 36.3 percent  in Hungary, 26.9 percent in Slovakia, 24.3 percent in Poland and 20.2 percent in France; the biggest increases in vegetable prices were 35.8 percent in the Czech Republic, 35.0 percent in Slovakia, and 29.5 percent in Latvia. The greatest increases in prices for sugar, jam, honey, chocolate and candies were 9.8 percent in Denmark, 8.3 percent in Finland and 5.1 percent in Hungary. Meanwhile, prices for oils and fats decreased in many EU countries, including by 7.6 percent in Germany, 4.7 percent in the Czech Republic and 3.4 percent in Austria.

In Russia, the steepest price increases in the period from the start of the year were 43.6 percent for vegetables and 11.2 percent for fruit, compared to average increases of 5.3 percent and 10.4 percent in the EU. Prices in Russia also rose 4.8 percent for sugar, jam, honey, chocolate and candies (2.2 percent in the EU); 3.2 percent for meat and meat products (1.4 percent); 1.3 percent for fish and seafood (0.6 percent); and 0.5 percent for bakery products and cereal grains (1.0 percent).

Meanwhile, prices in Russia dropped 2.8 percent for oils and fats (down by 1.4 percent in the EU), and 1.9 percent for dairy products, cheese and eggs (up 0.7 percent).

Overall inflation in Russia was 3.2 percent from the start of 2012 and 0.9 percent in June alone, compared to respectively 1.3 percent and 0 percent in the EU.

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