Russia is facing mounting economic pressure as food prices continue to surge during its ongoing war in Ukraine. The Kremlin is now reportedly considering price controls on essential food items, including vegetables, poultry, and dairy products, starting from March next year. This move has prompted warnings from economists who fear the country could experience Soviet-era-style shortages and economic collapse.
According to Daily Express, food prices have risen dramatically across Russia, with bread prices jumping 15% to 17% annually according to July figures. The country’s overall inflation rate has reached nearly 9.5% for the year as the government continues to spend heavily on its military campaign in Ukraine. The economic strain has led to discussions about implementing price regulations that would affect between 80% to 90% of food production, requiring sales at fixed prices or within government-approved price ranges.
