X5 RETAIL GROUP WILL REDUCE PRICES FOR BASIC PRODUCTS

X5 Retail Group announced a reduction of prices for a number of products from the basic consumer basket from December 16. It is reported that they will be sold at supplier prices - X5 intends to support needy Russians by these measures.

The list of goods included pasta, bread, potatoes, stew (beef), black tea, UHT milk and cereals. The listed products will be marked with special price tags, and they will have a zero mark up.

The retailer will pay the trade expenses for the specified goods (logistics, rent, salaries, utilities) at its own expense.

Igor Shekhterman, CEO of the company, says that X5 is taking these measures to support socially vulnerable groups that need help during the crisis. He also noted that he hopes for the reaction of other colleagues, manufacturers and suppliers - they could take part in keeping the prices down.

We should recall that X5 Retail Group includes Pyaterochka, Perekrestok and Karusel stores. It is also known that the retailer is involved in negotiations to contain prices for sugar and vegetable oil.

Earlier, President Vladimir Putin expressed dissatisfaction with the rise in food prices and said that many Russians simply no longer had enough money to buy food. After that, the Prime Minister Mikhail Mishustin demanded that the ministries take urgent measures, and a few days ago, it became known about the authorities' agreement on freezing the food prices.