Putin urges food price cut as economy struggles

RUSSIA / FSU POLITICS - In Brief 17 Dec 2020 by Alex Teddy
Putin called upon stores to reduce food prices. Unemployment was up to 6.3% in October. Salaries have been slashed by 5% in 2020.The price of sugar rose 70% from January to November 2020. Other basic foods have seen price rises only a little less drastic.The government has resisted a second lockdown. But the economy has been hammered all the same.Inflation is on the up and up.The president wants a law to restrict food price rises. Price rises will hurt his standing. Food prices the world over are rising. Food prices fell in Russia in 2019. A rise was to be expected in 2020 but the current rise beyond the norm. 1.3 million people fell below the poverty line in Q2 2020. Over 20 million people are there.2020 was supposed to be a year of growth for Russia's economy. But it will shrink by 4%. That is not as bad as for the EU.The RUB has lost 3-% of its value in 2020. Coronavirus deaths are officially 48 000. It is widely believed that the true figure is much higher. There were 165 000 more deaths March-October 2020 than in the same period in 2019.

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