Russia's invasion of Ukraine has led to a significant increase in food prices across the world, as well as a spike in global wheat and oil prices. The rise in food prices in Russia will continue to take its toll on the common Russian. Food security experts are calling on the Kremlin to speed up its measures aimed at preventing the crisis from further exacerbating.
Sergey Shoba, president of the Institute of Natural Security, stated this weekend: "The reason for the increase in food shortages is mainly related to the global market shocks, the European turmoil, and, of course, the events in Ukraine. The international community and the market are always reacting to these factors, and the reaction is always leading to price hikes."
Black Sea exports of crucial commodities have been disrupted over the past 100 days in a region that is responsible for providing more than a quarter of the world's wheat exports.
The Federal Service for State Statistics (Rosstat) has said in its monthly report that consumer prices have risen by 6.2% since May.
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