What products will rise in price the most in 2021
An economist told Wday.ru about this, as well as how the coronavirus pandemic will affect price increases.
One of the main news of the last week: the President of the country ordered to control and keep the prices of some products. We were especially alarmed by the rate of rise in prices for sugar and vegetable oil – there were even ideas to freeze their prices altogether. True, experts say that in this case, a shortage of these products may begin.
However, even without being tied to the government’s plans to regulate prices, it is still worth making stocks. The list of to-do items that must be done before the New Year can also include products that should be purchased before they rise in price in the upcoming 2021. Wday.ru asked a specialist which shelves in the store to pay attention to first of all.
Soviet and Russian scientist-economist, publicist, science fiction writer, Doctor of Economics, professor, leading researcher at the Faculty of Economics of Moscow State University named after M.V. Lomonosov
I believe that the general price level will rise in about the same way as it has risen so far, that is, not very significantly.
Certainly, the price of grain should rise, which may lead to an increase in prices for animal feed and, accordingly, a rise in the price of meat products. This year our harvest is not very good, although grain reserves are sufficient. This will not create a shortage of bread, and with fodder it can be worse, because most of the grain we produce is fodder.
Prices for bakery products are unlikely to rise as it is a socially sensitive product. However, there may be problems with the import of grain from those countries where we purchase it for processing into flour for pasta – our own grain production does not cover this need. We practically do not grow durum wheat, therefore we depend on the situation with the harvest in the countries from where it is supplied to us.
There is also no significant rise in prices abroad. They are more likely to fear deflation, that is, lower prices, which discourages producers. So, imported goods should not go up especially in price, especially since gradually with the economic recovery, the price of oil will grow, and this will support the ruble exchange rate in a more or less normal state.
There should not be an increase in prices for cosmetics and perfumery, because in the context of a pandemic, manufacturers of these products are faced with a reduction in sales. They will likely promote their product to the market with bonuses and discounts rather than inflating prices.
I see the problem for buyers not in connection with the rise in prices, but with the fall in their income. Cutting wages reduces demand, while prices usually do not rise.
As for the pandemic, the incidence rate will decrease significantly by summer. It is predicted that the coronavirus will become as seasonal as the flu, but vaccination will reduce the incidence to very low levels. With prices, everything will be stable, regardless of whether the pandemic is slow or fast. It’s all about income, if the economic recovery drags on, and by 2021 it will not return to pre-crisis levels.
Hostess a note
For the New Year, we advise you to stock up not only what should rise in price, but also what we just need to prepare dishes for the festive table and create an atmosphere. For example, a baking sleeve, condensed milk, caviar, smoked sausage, candles … The list is long! You can read it in full HERE.