Bloomberg predicted food tensions in Russia and several other countries

The agency has prepared an analytical material in which it reports that the rise in food prices will cause the greatest resonance in the largest middle-income countries, whose residents spend most of the consumer basket on food.

In addition to Russia, Bloomberg also included Brazil, Nigeria, Turkey and India in the list of these countries.

As a response, the Ministry of Economic Development issued a message in which it calls Bloomberg analyst on food inflation in the Russian Federation “speculative”. The Russian Ministry of Agriculture also reacted with a statement.

“There are no grounds for an abrupt increase in the cost of food products, while in Russia food remains one of the most affordable in Europe,” the Ministry of Agriculture said in a statement. The department assesses the current situation on the agro-industrial complex market as stable and does not expect a shortage of any types of food.

However, according to Rosstat, in 2020 it was the households that suffered the most from the crisis, having reduced consumption by 8.6%. The fall in real incomes of the population was 3.5%, according to the department.

SOURCE: Sfera FM