Russia’s third-largest food retailer, Dixy Group, has imposed a one-month cap on the prices of essential food stuffs in its stores as inflation in Russia continues to rise.
With inflation in Russia at 11.4% at the beginning of February and food prices rising, Dixy Group announced on Monday it would be capping the prices of key foods including buckwheat, rice, pasta and frozen fish for one month.
According to The Moscow Times, Ilya Yakubson, head of Dixy Group, said in the statement that “we are taking the inflationary risk on ourselves. This is the company’s answer to the expectations of our customers and confirmation of the fact that, in the current situation, it is retail chains that are a break on inflation.”
Earlier in the month Russian government officials said they were considering a blanket cap on “essential foodstuffs” if inflation continued to rise.
ADVERTISEMENT
Russian food prices have increased dramatically since President Putin placed a ban on European food imports in retaliation for sanctions placed on Russia by Western governments due to the country’s military interference in the Ukraine.
The Dixy Group was founded in 1999 and has its headquarters in Moscow.
Register for free to read this story and our free stories.
This content is available to digital subscribers and loyalty code users only. Sign in to your account, use the code or subscribe to get unlimited access.
However, if you would like to share the information in this article, you may use the headline, summary and link below:
Title: Russian food retailer freezes food prices
Russia’s third-largest food retailer, Dixy Group, has imposed a one-month cap on the prices of essential food stuffs in its stores as inflation in Russia continues to rise.
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
CODE ACCEPTED
You have full access to the site until next Wednesday at 9pm.
CODE NOT VALID
Please try again or contact support.
With inflation in Russia at 11.4% at the beginning of February and food prices rising, Dixy Group announced on Monday it would be capping the prices of key foods including buckwheat, rice, pasta and frozen fish for one month.
According to The Moscow Times, Ilya Yakubson, head of Dixy Group, said in the statement that “we are taking the inflationary risk on ourselves. This is the company’s answer to the expectations of our customers and confirmation of the fact that, in the current situation, it is retail chains that are a break on inflation.”
Earlier in the month Russian government officials said they were considering a blanket cap on “essential foodstuffs” if inflation continued to rise.
Russian food prices have increased dramatically since President Putin placed a ban on European food imports in retaliation for sanctions placed on Russia by Western governments due to the country’s military interference in the Ukraine.
The Dixy Group was founded in 1999 and has its headquarters in Moscow.
If you would like to speak to a member of our team, please call us on 01-4199525.
Link sent to your email address
We have sent an email to your address. Please click on the link in this email to reset your password. If you can't find it in your inbox, please check your spam folder. If you can't find the email, please call us on 01-4199525.
ENTER YOUR LOYALTY CODE:
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
SHARING OPTIONS