Prices of bread made of rye and wheat in Ukraine rose by 20.9% YoY in September, according to a member of the Economic Discussion Club Oleh Pendzin.
“Prices of first-grade flour increased by 12% from September 2016 to September 2017, those of rye flour climbed by 4.5%, while the price of bread made from first-grade wheat flour rose by 19%. The cheapest types of bread made of rye and wheat grew up in price by 20.9%,” Pendzin said at a press conference.
Flour accounts for only 50% of the cost of a loaf of bread, while the rest are costs related to the minimum wage of workers, electricity and transportation costs, he said.
“We must understand that if all these components are changed, there will be a tendency towards an increase in the price of bread. Moreover, even with a more or less stable price of flour, the prices of this product will be still growing. Now we can see bread prices rise by 1-1.5% every month,” the expert said.
According to Pendzin, the trend is a little worrying, given that the state has refused to regulate prices of socially important food staples, in particular bread, since July. (UNIAN/Business World Magazine)