Ministry of Economic Development on the current price situation in the Russian and world markets. April 19, 2023

Consumer inflation from 11 to 17 April
1. For the week from 11 to 17 April, inflation was 0.04%. In annual terms, the price growth rates decreased to 2.82% y/y.

2. In the segment of food products, prices increased by 0.08% (0.03% in the previous week) due to an increase in the rate of appreciation of fruits and vegetables (0.66% after an increase of 0.29%). For food products, with the exception of vegetables and fruits, there was a near-zero increase in prices by 0.03% (0.01% a week earlier). Increased prices for meat products, sugar, bread and bakery products. At the same time, the rate of decline in prices for flour, dairy and fat-and-oil products, as well as pasta and cereals increased, and the price of eggs continued to fall.

World Markets

3. In the week from April 11 to 17, prices on world food markets changed from -5.0% to +3.9% (from -2.4% to +5.7% a week earlier). On an annualized basis, prices fell by -14.0% y/y in April.

During the week under review, prices for wheat increased in the USA (3.3%) and France (1.6%), soybeans (1.3%) after the reduction last week. Quotes for corn (3.9%) and beef (1.4%) increased. Prices for white sugar (-5.0%) and pork (-1.6%) declined after increasing last week. Soybean oil (-0.6%) and palm oil (-2.8%) continued to fall in price.
Raw sugar prices have stabilized.

4. In the global fertilizer market, prices increased by 4.5% (2.7% a week earlier) due to higher prices for nitrogen (4.3%) and mixed fertilizers (4.8%). In annual terms, in April, the decline in prices amounted to -49.0% y / y.