A notice in a department store reads ''No Salt''. The recent salt rush showed crisis expectations in Russia, revealed the risks embedded in the system and made clear the shallow nature of current stability.
Photo: Pavel Lisizyn
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Salted Stability
Jan.-Feb inflation in Russia is estimated at around 4 percent, Economic Development and Trade Minister German Gref told the cabinet Thursday. The indicator was just 3.9 percent past year despite the slower advance of rates for housing and communal services posted at that time. This year's inflation roots in substantial growth in foods prices, which climbed 4.5 percent vs. the 3-percent increase posted last year.
To the great extent, Gref said, the February inflation could be attributed to the sharp surge in salt prices (45 percent). Allegedly curtailed deliveries of Ukrainian salt prompted the Russians to build up strategic reserve. According to the polls, 41 percent of Russians had to endure the salt shortage, and 14 percent purposefully went to the stores for this product of strategic importance. Predictably, 5 percent found no salt in the stores, as it had been sold to the quicker buyers in part and in whole.
In addition to salt, 3 percent of Russians bought extra sugar just to be on the safe side; some of buyers stocked up matches, flour, cereals, macaroni products, vegetables, candles, soda and washing powder.
www.kommersant.com
All the Article in Russian as of Mar. 03, 2006
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