Inflation targets another victim, Russia considers price controls.
In a recent piece , we learn that Russia is struggling with what the rest of the world is attempting to combat - food inflation. While food inflation has taken a violent turn in places like Egypt, Tunisia and Algeria, other governments are starting to consider desperate means to combat increases in money supplies all over the world. In places like Kuwait, Abu Dhabi and other wealthy countries governments have committed to subsidizing food in order to remove the shock of price increases, in less wealthy countries like China wage increases have been implement to provide citizens with a means to pay. In places like Russia, some officials are considering price controls. Deputy Economics Minister Andrei Klepach said on Monday that the Economics Ministry may consider resorting to the tried-and-tested price control system to contain prices, but added that there were no plans to implement this in the near future. "This is a tool which can be used, and I do not rule ...