Putin calls for being ‘one step ahead' in tackling rising food prices

Asia's Tech News Daily

The head of state noted that wheat prices have soared on global markets over the past month and, according to experts, such dynamics may continue

MOSCOW, November 30. /TASS/. Risks of further hikes in food prices still exist and the authorities should ‘be one step ahead’ in tackling the problem of inflation, Russian President Vladimir Putin said speaking at a plenary session of the VTB Capital investment forum Russia Calling!

“We see what sort of crisis has erupted on the global energy market. First of all, it has already led to soaring hikes in nitrogen fertilizer prices. For agricultural producers around the world, this is one of the key resources for maintaining soil fertility and stable yields. Obviously, this situation creates risks and for a further rise in food prices, “Putin said.

The head of state noted that wheat prices have soared on global markets over the past month and, according to experts, such dynamics may continue.

Putin noted that Russian citizens are also experiencing global inflationary pressures.

“Largely, under the influence of external factors, the growth of consumer prices in our country has accelerated. This is a serious problem that is sensitive for citizens, especially for families with low incomes. Its solution requires the utmost attention. It is important not only to cope with the effects of inflation, but also to be one step ahead of the game, and eliminate the factors that stoke the price hikes,” Putin stressed.

He recalled that the authorities are already providing targeted support to producers of goods who are most susceptible to sharp price fluctuations.

“First of all, these are food products. Here again I draw the attention of the Russian government and colleagues in the regions – an increase in production and an increase in the availability of food on the domestic market is a key criterion for effective work in this area,” Putin said.

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