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Russian consumer market prices to be constantly monitored

12:42 09/03/2021

MOSCOW, March 9 (RAPSI) — Russia is introducing constant monitoring of prices for consumer goods and services. This decision was approved by the government of the Russian Federation.

The new instrument is to facilitate a systematic analysis of the market situation, predict the risks of rising prices for important products, and take timely measures to curb price increases, the Cabinet says.

Thus, the Ministry of Economic Development acting in cooperation with Russia’s Federal State Statistics Service (Rosstat), and the Federal Antimonopoly Service is to be engaged in the monitoring and assessing of price dynamics. In case a tendency towards an accelerated rise in prices, significantly exceeding inflation, or risks of a significant rise in prices are detected, the respective information is to be submitted to relevant ministries and agencies for subsequent submission of proposals on possible economic response measures to the government.

By the directive signed by Prime Minister Mikhail Mishustin, certain ministries and agencies are made responsible for respective groups of goods and services.

For instance, the Ministry of Agriculture is to be in charge of food and tobacco products (12 items in total). The Ministry of Industry and Trade is to be responsible for consumer goods, including household appliances, furniture, computers and telephones (13 items), the Ministry of Health is to control medical products and drugs for medical use, medical and sanatorium services. The Ministry of Energy is to be responsible for gasoline and diesel fuel, the Ministry of Digital Development, Communications and Mass Media is to monitor communication services, the Ministry of Construction is to control housing and communal services.

The Ministry of Transport was appointed responsible for passenger transportation by air, rail, and road (except for taxis) transport, as well as urban ground electric transport. The Ministry of Education is to monitor preschool education services, as well as general and secondary vocational education, the Ministry of Education and Science is to be in charge of higher education services.

The Federal Agency for Tourism is to be responsible for hotel accommodation prices in the domestic market, the Ministry of Culture is to be in charge of the situation in its subordinate institutions. The Federal Service for Alcohol Market Regulation (Rosalkogolregulirovanie) was appointed responsible for alcoholic beverages.

The government reminds that an interdepartmental working group has been created earlier to monitor and promptly respond to changes in consumer prices for socially significant goods. The group is headed by First Deputy Prime Minister Andrey Belousov.

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Russian consumer market prices to be constantly monitored

12:42 09/03/2021 Russia is introducing constant monitoring of prices for consumer goods and services. This decision was approved by the government of the Russian Federation.
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