The prices that will increase the most are computers and smartphones, which are almost never made in the Russian Federation. Also, consumers need to gradually change to home clothes.
The growing problem with cross-border payments for Russian companies is likely to reach the consumer goods market. The reduction in imported assortment over the next six months to a year could affect clothing stores, as well as the technology and electronics sector. The Moscow Times reported this on Wednesday, July 31, citing the forecast of Alfa Bank analysts.
It was noted that in the next 6-9 months the “most likely scenario” is an increase in prices for equipment by 15-20%, as well as a “deterioration in the variety” of goods The most aggressive price increases, according to analysts, are expected for computers and smartphones, which are almost never made in Russia.
After the loss of some imported equipment, Russian consumers had to gradually change to home clothes. Due to difficulties in placing orders abroad, Russian retail chains and brands are likely to expand cooperation with Russian factories, the bank’s analysts wrote.
It appears, they added, that this is the scenario “considered most favorable” by government and regulatory authorities for light manufacturing.
The tightening of American sanctions, due to which Turkish banks have almost stopped working in Russia, and Chinese banks are “expanding” up to 80% of payments, has already led to a reduction in the supply of goods from other countries.
According to the Central Bank of the Russian Federation, in the first half of the year, imports worth $137.9 billion were imported into the Russian Federation – 9%, or $13.8 billion less than a year earlier. At the same time, supplies from all regions of the world fell, the Federal Customs Service reported earlier: from the USA and Europe – by 17%, from Asia – by 4%, from in Africa – by 2.6%. Supplies from Turkey, according to local customs data, fell 28% in six months.
It was previously reported that the handicraft computer assembly was filled by Russia after global brands left the aggressor country.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.