Data from Russia’s Federal State Statistics Service (Rosstat) shows that the food item with the biggest price jump in 2024 was potatoes, which saw a nearly 92 percent increase from December 2023 to December 2024, according to RBC. Prices for onions, cabbage, and red caviar also rose significantly. Butter, which received widespread attention in Russian media last year for its rising cost, comes in fifth on the list, with a 36 percent increase. To address the soaring prices, Russia started importing butter from Turkey and the UAE. Overall, vegetables and fruits grew more expensive by 22 percent year-on-year.
Food prices increases (Dec 2023 - Dec 2024) in Russia according to official data:
- Potatoes: 91.9%
- Onions: 48.2%
- Cabbage: 44.7%
- Red caviar: 37.7%
- Butter: 36.2%
- Beets: 32.1%
- Cucumbers: 28.5%
Once upon a time, caviar was considered worthless, just like salmon, lobster, and a bunch of other foods we now consider exclusive… while stuff like chicken or pie, were the exclusive expensive ones.
Russia is experiencing price increases all across the board, which kind of points towards a systemic issue.
War economy bubble