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Russian economics ministry register price hike on banned import goods

August 22, 2014, 15:39 UTC+3 MOSCOW
The ministry also said that prices continued to grow in the sphere of housing and public utilities services
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MOSCOW, August 22. /ITAR-TASS/. Russian prices on products banned from western import such as poultry, pork, fish and butter went on increase, the Russian Economic Development Ministry said on Friday in its weekly monitoring report.

The ministry also said that prices continued to grow in the sphere of housing and public utilities services.

In this regard the ministry forecasts 0.1% inflation in August. 

The forecasted inflation rate stands at 5.7% and 7.5% for the periods since the beginning of the year and for the whole 2014 respectively.

In response to Western sanctions Russia imposed on August 7 a one-year ban on imports of beef, pork, poultry, fish, cheeses, fruit, vegetables and dairy products from Australia, Canada, the European Union, the United States and Norway.

The price hike on products subjected to European food import embargo was also reported on Wednesday by the Russian Federal State Statistics Service (Rosstat).

Meanwhile, Russians support the country's ban on food imports in the stimulus it provides for domestic agriculture and bringing local produce to shop shelves, a poll suggests.

84% of respondents said sanctions which Russia had imposed on the West would bring benefits, findings from the All-Russia Public Opinion Research Centre (WCIOM) survey indicated on Friday. Just nine percent of those replying opposed the restrictions.

63% t of those polled forecast increased food imports from Asian and South American producers while the same number expected higher prices.

The survey questioned 1,600 people in 42 regions on August 9-10.

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