Share of allowed Turkish goods less than 0.5% in consumer basket, immaterial for inflation - ministry
MOSCOW. March 13 (Interfax) - The lifting of Russia's ban on imports of a number Turkish products might slow price growth for such products and even lead to a drop in prices for them, but it will not have a significant impact on inflation in Russia due to their small share in the consumer basket, a representative of the Economic Development Ministry told Interfax.
"The restoration of shipments of goods from Turkey will help increase competition on the markets for these goods and, consequently, might lead to a slowdown in the growth, or decrease of prices. However, the effect of lifting the sanctions on the dynamics of retail prices will be determined by the volume and conditions of shipments," he said.
"In general, the lifting of the ban on imports of carnations, onions, cauliflower, broccoli and salt will not have a significant impact on inflation, considering the small share of these products in the consumer basket for calculating the consumer price index - less than 0.5%," the ministry representative said.