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14 Feb, 2022 14:16

Food prices spike in Ukraine

January has seen a significant rise in prices for basic foods
Food prices spike in Ukraine

Food prices in Ukraine spiked in January amid rising gas prices and international hype about an alleged impending Russian invasion.

According to the country’s State Statistics Service (Gosstat), the first month of 2022 has seen a 2.5% growth in food prices, with bread prices spiking by 1.9% in a month, eggs by 3.9%, and vegetables by a whopping 20.5%.

Only butter and sugar have become cheaper, which is apparently a cold comfort for families: according to local media, their weekly food expenses have increased, on average, by 300-400 hryvnia ($10-15).

As a result, in terms of food prices Kiev is now close to Moscow, which is also suffering from an increase in the cost of basic products, while the average salary in Ukraine is much lower than in Russia.

Strana has compared prices in Auchan stores in the two capitals by converting rubles to the Ukrainian currency.

It turned out that bread was twice as expensive in Kiev. Chicken filets, milk, vegetable oil, pasta, carrots, onions, and cucumbers are more expensive in Ukraine, while potatoes and tomatoes are dearer in Moscow. Buckwheat, equally popular in both countries, cabbage and tea prices are almost the same in both cities.

Price increase rates have required government intervention in both countries. In January, Ukrainian authorities introduced temporary regulation of prices for basic products and gas discounts for manufacturers.

Two months prior to that the spiraling costs prompted the Russian Central Bank to call for immediate action to reduce the prices of basic foods.