Economics
Borscht Inflation Shows Russia’s Price Shocks Hard to Escape
- Cost of staples like onions, cabbage and carrots is soaring
- Overall weekly inflation slowed slightly as panic buying eased
Borscht
Photographer: Hennadii Minchenko/Ukrinform/Getty Images/Future Publishing
This article is for subscribers only.
Even food staples grown in Russia are soaring in cost, providing a glimpse of the hardship that awaits consumers after waves of sanctions over the invasion of Ukraine set off supply shocks and a steep currency devaluation.
Most of the hearty ingredients needed to make borscht, considered comfort food in Russia and much of eastern Europe, saw double-digit price increases in a single week, with onions soaring more than 18% and cabbage nearly 16%. Residents of some regions had to fork out over 40% more for some of the basic foodstuffs needed to cook a savory pot, which also features beets alongside potatoes and carrots.