Rising inflation drives up butter prices in Russia

President Vladimir Putin says that Russia's war economy is well balanced to supply both guns and butter, but the price of butter itself is now soaring as surging inflation distorts parts of the economy.

The price of a block of butter has risen by 25.7% since December, according to the state statistics service.

Some think it is even more.

“Everything has risen in price very much, probably by 50%. Including eggs and butter. Everything got more expensive,” Moscow resident Victoria said at a supermarket in Moscow.

Reporters found shopping bills showed the price of a pack of "Brest-Litovsk" high-grade butter in Moscow has risen by 34% since the start of the year to 239.96 roubles (US $2.41).

"The Armageddon with butter is escalating; we wouldn't be surprised if butter repeats last year's situation with eggs," economists on Russia's popular MMI Telegram channel warned, referring to an earlier spike in egg prices which alarmed consumers.

The steep price rise has prompted a spate of butter thefts at some supermarkets, according to Russian media, and some retailers have started putting individual blocks of butter inside plastic containers to deter shoplifting.

The authorities, who have gone to great lengths to try to ensure the war in Ukraine does not affect people's daily lives, are watching closely.

Dmitry Patrushev, a deputy prime minister in charge of agriculture, said on Oct. 23 that the government would monitor butter prices. He met major dairy producers and retailers and said imports were being stepped up.

Milk prices have soared too as have wages, interest rates, fuel and transport - all price inputs for butter. Butter imports from Belarus are not sufficient so Russia is expecting a big shipment from Turkey, and even from Iran and India, Russian media reported.

Although not everyone is ready to buy it.