Starting in 2027, the Russian Federation will introduce price controls on goods and services
Starting January 1, 2027, Russian authorities will be able to monitor price changes for goods and services that are factored into inflation calculations. The new mechanism will allow for tracking the cost of goods at every stage—from the manufacturer or importer to retail sale.
Data for analysis, identifying sharp price increases, and determining the causes of price hikes will be collected by government agencies authorized to respond to price spikes. The Russian government will determine the list of such agencies. In addition to prices, authorities will have access to data on sales volumes and revenues of market participants, which will be provided by the Federal Tax Service.
Socially significant products—ranging from various types of meat and vegetables to milk and grains—may come under total control. The specific list will also be drawn up by the Cabinet of Ministers.
According to Roman Chekushov, Deputy Minister of Industry and Trade of the Russian Federation, the Federal Tax Service will share information from point-of-sale systems—which contain tax-confidential data—in order to promptly “limit markups and curb unscrupulous market behavior.”
According to Svetlana Ilyashenko, an associate professor in the Department of Trade Policy at Plekhanov Russian University of Economics, the law legalizes the state’s access to raw transaction data and shifts the balance of power in the food market. However, this is unlikely to lead to lower prices for consumers, since a significant portion of the retail price is made up of logistics, rent, and payroll costs, which are not reflected in tax data.
As a reminder, food prices in Iran have risen by up to 400% due to the consequences of the war with the U.S.
Oil prices are rising due to U.S. strikes on Iran and threats from the Houthis — Reuters.
