Food prices are falling in the Krasnodar Territory

According to the bank's analysts, due to the high harvest last year, grain prices remain at a low level. This constrains the growth of livestock farmers' costs for feed. Moreover, the number of cattle in the region increased by 5.5%, and this also affected the growth of MILK production in January-May by 13.2% compared to the same period in 2022. Under the influence of these factors, prices for milk and some dairy products, such as sour cream and butter, decreased .

However, in the Kuban increased prices for motor fuel. Due to expectations of a possible reduction in compensatory payments to producers, the demand for gasoline increased in the wholesale market.

As reported in the Southern Main Directorate of the Bank of RUSSIA, in general, inflation in the Krasnodar Territory in May amounted to 2.6%. According to the forecast of the Bank of Russia, in 2023 annual inflation will be 4.5-6.5%, will return to 4% in 2024, and then will be around 4%.