Back in the USSR: Russia to set price caps on 'socially important' foods

Russia may implement price caps on 'socially important' foods
(Image credit: iStock)

With the Russian economy reeling from the collapse of the ruble and falling oil prices, it looks like the government of President Vladimir Putin is resorting to some moves from the old politburo playbook. The Russian news website Meduza reports that the country's largest grocery chains, under pressure from the government, have "agreed to freeze prices on so-called 'socially important' foods for the next two months."

Those foods reportedly include an array of meats, dairy products, sugar, salt, and other staples.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us
Ryu Spaeth

Ryu Spaeth is deputy editor at TheWeek.com. Follow him on Twitter.