CB: the trade restrictions in Turkey have not had a negative impact on prices in the Russian Federation

CB: the trade restrictions in Turkey have not had a negative impact on prices in the Russian Federation


MOSCOW, 12 February. Trade restrictions against Turkey, which entered into force on 1 January 2016, not have a negative impact on prices.

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This is stated in the information-analytical comments of the Bank of Russia “Dynamics of consumer prices”.

Thus, according to estimates of the Central Bank, the prices of tomatoes and oranges imported from Turkey previously held a noticeable share, decreased (excluding the seasonal factor). “The rate of increase of food prices in General (also cleared of seasonal factors) in January 2016 declined compared with December,” says the regulator.

What is prohibited to import from Turkey

Russia from January 1, 2016 banned the import of certain foodstuffs from Turkey. In particular, Turkey will not be able to export strawberries, oranges, tangerines, grapes, apples, pears, apricots, peaches and nectarines, plums, strawberries, and strawberries. In restrictive list includes vegetables (tomatoes, cucumbers, cauliflower and broccoli, onion), as well as frozen parts of carcasses and offal of turkeys and chickens. Is prohibited by Turkish cloves and salt.

Dossier

Political divisions of the Russian Federation and Turkey. Dossier

Russian-Turkish economic relations. Dossier

Inflation falls

Inflation in the Russian Federation in February 2016, according to a preliminary estimate by the CBR to fall to 8.3 up to 8.7% compared to February 2015, stated in the message controller.

However, according to the Central Bank, inflation risks remain. “In particular, against the background of economic uncertainty, inflationary expectations remain elevated,” – said in comments controller.

As a factor in the sharp deceleration of annual inflation in January (to 9.8% after 12.9% in December 2015), there is a high base effect in early 2015, the prices have skyrocketed, explained in the Central Bank. “However, played a role and reduced demand, which obviously is not affected even the ruble: the citizens were in no hurry to stock up for future use non-food durable goods”, – it is specified in the comments of the Central Bank.

Expert opinion

Author: Konstantin KORISHCHENKO
Korishchenko
Constantine