Financial Times FT.com

The global food crisis

Russia to control food prices

By Neil Buckley in Moscow and Javier Blas in London

Published: October 23 2007 19:20 | Last updated: October 23 2007 19:20

Russia is introducing Soviet-style price controls on some basic foods in an effort to prevent spiralling prices from denting the Putin administration’s popularity ahead of parliamentary polls in December.

The country’s biggest food retailers and producers have reached an agreement, expected to be signed with the Russian government on Wednesday, to freeze prices at October 15 levels on selected types of bread, cheese, milk, eggs and vegetable oil until the end of the year.

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