Prices of socially significant products dropped by 7.2% in July - AKORT

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In July, the prices of essential food items in major Russian retail chains decreased by 7.2% compared to the same period last year, according to the Association of Omnichannel Retail Companies (AKORT).

Prices fell in 14 out of 25 socially significant categories. The most notable price drops were seen in rice (-28.7%), butter (-26.6%), pork (-23.5%), wheat flour (-17.6%), and carrots (-15.2%). Other products that became cheaper include millet (-10.6%), black tea (-8%), pasta (-6.5%), beetroot (-5.2%), chicken eggs (-4.8%), seasonal apples (-4.4%), sunflower oil (-3%), table salt (-2.9%), and mutton (-1.8%).

In July, the average retail markup on essential food items was 0.3%. All vegetables in the "borsch set" (a traditional Russian vegetable mix for soup) were sold below cost: cabbage (-16.2%), carrots (-15.2%), beetroot (-8.4%), onions (-4.6%), and potatoes (-4.2%). Other products sold at a loss include buckwheat (-9.6%), sunflower oil (-4.9%), broiler chickens (-4.6%), rice (-4.5%), wheat flour (-2.9%), millet (-2.2%), seasonal apples (-1.8%), and milk (-1.1%).

The price dynamics are explained by seasonal factors.