Against the backdrop of the war in Ukraine and NATO sanctions, food price inflation—the prelude to food shortages and famine—in Russia takes on added significance. And Russian food price inflation is rising and spreading.
45% of Russians observe an increase in prices for meat and poultry (against 38% a week earlier), 43% - for milk and dairy products (against 37% a week earlier), 39% - for eggs (against 34% a week earlier). Also, 42% said that vegetable oil has become more expensive, 40% of respondents said that fruits and vegetables have become more expensive (against 35% a week earlier), 35% believe that fish and seafood have risen in price (against 30% according to the results of the survey last week).
As the residents of Shanghai in China prove yet again, food insecurity catalyzes social upheaval and civic unrest.
Will Russia avoid this outcome?
Food price inflation looks to be a world-wide phenomenon now. But think back 40 or 50 years, when the predictions were that much of the world would be starving by now. Instead, we've had unprecedented amounts of food available just about everywhere.