It is possible to set maximum retail prices for products if their cost in the region increases by 60 percent or more for 10 days in a row. This was reported by TASS with reference to the press service of the Federal Antimonopoly Service (FAS).
The Government is authorized to regulate prices for socially important products. The list of certain types of socially significant food products and mechanisms for setting maximum permissible retail prices are determined by a decree of the Cabinet.
“Thus, the maximum retail prices can be set if within 60 calendar days in a row in the territory of a separate constituent entity of the Russian Federation or the territories of the constituent entities of the Russian Federation, the rise in retail prices for food products is 10 percent or more, excluding the seasonal factor," the message says.
To stabilize consumer prices for socially important products, measures such as increased rates of export customs duties, agreements on price containment between producers and retail chains, subsidies for producers, and antitrust regulation measures are applied.
At the end of May, President Vladimir Putin announced an aggravation of the situation with prices for socially important products. He also noted that Russia is grateful to its partners for supporting Moscow's initiative to normalize the situation on the food market.
During the direct line, President Putin said that the largest increase in food prices in Russia was recorded in 2020 and early 2021.