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REUTERS/Alexey Pavlishak
Inflation in Russian-occupied Crimea
accelerated sharply, with year-over-year price growth reaching 15.79% in July,
independent outlet The Insider reported on Aug. 24, citing Russia’s Federal
State Statistics Service.
According to the figures, fuel prices rose the most, while supply and logistics problems began driving up the cost of food, construction materials, and other goods.
One of the main reasons for the sharp increase was disruption to fuel supplies and logistics. In Crimea as a whole, gasoline prices rose 142.47% in July and 211.37% over the previous 12 months. In Sevastopol, motor fuel prices increased 59.36% in July and 180.76% year over year.
The Russian central bank attributed the situation to maintenance work at oil refineries and difficulties delivering petroleum products to Crimea. In Sevastopol, the central bank explicitly said that supply reductions caused by delivery problems had a stronger effect on prices.
Higher fuel prices, in turn, began affecting the cost of other goods. In Sevastopol, construction materials rose 15.43% in July and 22.43% over the year. The central bank linked the increase to higher delivery costs for suppliers, including more expensive fuel and increased wages for drivers.
Food prices also rose significantly. In Sevastopol, food prices increased 13.43% over the year. Egg prices rose particularly sharply, climbing 44.92% in July alone and 47.34% year over year. The central bank attributed the increase to lower production at poultry farms in Crimea, as well as higher delivery costs caused by rising fuel prices and worsening logistics.
Periodic power outages added to the instability. According to the central bank, residents of Sevastopol began buying more food that could be stored for long periods without refrigeration. Against that backdrop, sugar prices rose 16.42% in July, while pasta and grains increased 13.91%. Sugar prices were up nearly 49.49% over the year.
At the same time, logistics problems hurt the tourism
industry. The Bank of Russia recorded a decline in tourism to Sevastopol,
citing difficulties with transportation access. To attract visitors, hotels,
sanatoriums, and vacation facilities cut their prices. Health and spa services
fell 15.98% in July. A similar trend was observed across the peninsula, where
hotel and rental prices declined in July.
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