The Russian Ministry of Economic Development and Trade on the current pricing situation in domestic and international markets

1. In the week from 6 to 12 May 2025, inflation was 0.06% compared to the previous week.

2. In the food segment, prices increased by 0.12% (n/a). The decline in prices for fruit and vegetable products accelerated, reaching -0.7% (n/a). The rate of decline in prices for cucumbers and tomatoes increased to -9.6% and -5.9%, respectively. The decline in prices for bananas accelerated to -1.3% (n/a). For other food products , with the exception of fruit and vegetable products, growth amounted to 0.2% (n/a), while the rate of price growth for milk and bread decreased (to 0.1% and 0.2% (n/a), respectively). Prices for lamb, sugar , and sunflower oil remained unchanged. Prices for pasta, butter, and eggs continued to decline , falling by -0.2% and -1.3% (n/a).

World markets

3. In April, the FAO Food Price Index increased by 1.0% compared to March and by 7.6% year-on-year. This was driven by increases in the price indices for meat (+3.2% m/m), dairy products (+2.4% m/m), and cereals (+1.2% m/m). Meanwhile, the vegetable oil index decreased by -2.3% m/m, and the sugar index by -3.5% m/m.

From May 6 to 12, global food prices fluctuated between -4.0% and +3.2%. In May, food prices fell 2.0% year-on-year. Following declines the previous week, prices for raw sugar, soybeans, and soybean oil rose by 1.5%, 2.7%, and 3.2%, respectively, while the price of white sugar remained stable. Prices continued to decline for corn, wheat in France, palm oil, and pork.

4. Global fertilizer prices fluctuated mixed: nitrogen fertilizers fell by -3.1%, while mixed fertilizers increased by +0.4%. Year-on-year, fertilizer prices in May increased by 48.7% year-on-year.