The average markup on socially significant goods in retail chains decreased to 6.11%

According to an analysis of minimum retail prices for socially important goods, the most noticeable decrease in prices in March 2024 was recorded for onions - they fell in price by almost 55% compared to March last year. Also in annual terms prices fell: buckwheat - by 25%, potatoes  - 20%, millet - by 18%, beef on the bone - by 4.7%, vermicelli - by 1.7% and wheat FLOUR  - by 0.5% . The most noticeable increase in prices in annual terms was noted for white cabbage; chicken eggs also increased in price by more than 30% , chicken MEAT (broiler carcass) and seasonal apples by 28%. However, prices for these products in large retail chains are 15–25% lower than the national average prices recorded by Rosstat at the end of March.

In the first quarter of 2024, retail chains continued to invest in prices, holding back the rise in prices of socially important products. In March, negative markups applied to borscht vegetables: carrots (-21%), beets (-6%) and cabbage (-5%). Minimal, near-zero markups are maintained for granulated SUGAR, bone-in beef , broiler chicken carcass and chicken eggs. The overall average markup on a basket of socially significant products in March was 6.11% compared to 7.5% a year ago.

“Retail chains - members of AKORT support consumers by investing part of their profitability, which for many years has not exceeded 2-3%, in controlling prices for socially important goods. Retailers keep markups on socially important goods below annual inflation, despite rising costs throughout the supply chain. AKORT monitoring data at the end of the first quarter of 2024 reflects the impact of the seasonal increase in prices for fruits and vegetables, stabilization of prices for chicken eggs and meat and leveling out the situation with the supply and cost of onions - the high base of last year’s prices was due to temporary restrictions on  the EXPORT of onions from Central Asia.” , - commented the chairman of the presidium of AKORT Igor Karavaev.