Russian Retailers Forecast Higher Prices For Clothing And Footwear In Autumn
According to the Russian "business advisory" on July 22, the cost of shipping between Asia and Europe has increased several times compared with last year. This year, cotton prices have risen by 35%, and the cost of all materials involved in petroleum products has also increased significantly. A weak ruble affects product prices.
According to the Statistics Bureau of Russia, the retail prices of most products increased by 4-5% from January to June this year. Retailers predict that clothing and footwear prices may rise by at least 10% in autumn and winter due to rising logistics and raw material costs. Since last year, prices of building materials, timber and metals have hit record highs, leading to higher operating costs, and retailers have said they will keep prices by reducing profits, but not indefinitely.
(source: website of the Ministry of Commerce)
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