AKORT: food prices will grow faster than inflation

August 20, 2018 11:30

AKORT: food prices will grow faster than inflation

The Association of Retailers (ACORT) did not rule out that food prices will grow faster than official inflation forecasts. "This growth can outstrip official inflation by 1.5-2 times," Sergei Belyakov, chairman of the ACORT's presidium, said in an interview with Rossiyskaya Gazeta. He noted that the growth of retail prices is always less than wholesale, because at the end of the whole chain, the buyer and retail chains are trying to contain the price increase. In wholesale prices are rising. Since the beginning of this year, according to him, for example, meat products - pork, beef, veal, lamb - on average rose in price for retail by 8-60 percent. A similar pattern, but with a smaller spread, is expected in the poultry segment. At the same time, the growth of retail prices for food will occur with a temporary lag - that is, prices will rise after a month and a half, Sergei Belyakov added. In addition, the increase in prices in retail will be less than in the wholesale chain, because retail is interested in maintaining sales volumes. In addition, growth may be short-term, because the factors that led to an increase in wholesale prices are clearly temporary, Belyakov noted.