Russian butter prices soar, rise in supermarket dairy thefts reported

The price of butter in Russia has soared nearly 25% since the beginning of 2024, Russian media reported on Oct. 31, prompting a spate of thefts in supermarkets across the country.

Reuters reported that the price of one brand had risen by 34% since the start of the year and currently cost 239.96 roubles ($2.47).

According to Russian independent news outlet Meduza, butter in some supermarkets is now packaged in the same anti-theft casings usually used for delicacies such as caviar and premium alcohol products.

The move has been prompted by a rise in  butter thefts, including one incident where two men were arrested after allegedly trying to steal 25 packets from a supermarket in Moscow.

Surging government spending on war and defense production has seen Russia's economy shift to a war footing. Inflation in Russia has remained high throughout 2024, with the annual figure slowing to 8.63% in August, down slightly from 9.05% in August.

To combat these pressures, Russia's Central Bank has kept interest rates high, now set at an unprecedented 19%.

Increases in costs associated with wages, interest rates, fuel, and transport, have all contributed to the rising cost of butter.

The situation is being closely followed in the Kremlin which has sought hard to ensure its war in Ukraine does not affect the day-to-day lives of its citizens at home.

Speaking on Oct. 23, Dmitry Patrushev, a deputy prime minister in charge of agriculture, said the government was monitoring butter prices.

Russia is also having to increase imports, with Meduza reporting that Turkey is now supplying butter to the country.

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