Russian prices to soar Jan. 2

December 24, 1991|By Reauters

LONDON (Reuters) -- The prices of some basic foodstuffs, including bread and milk, will triple in Russia as part of government plans to free prices Jan. 2, the Tass news agency reported last night.

Tass quoted a Russian government decree as saying: "Free [market] prices on all the production and technical items, consumer goods, works and services will be introduced on Jan. 2, 1992. . . . The prices will be formed in accordance with supply and demand."

Under the decree, Tass said the price of vegetable oil will triple, sugar will cost 3 1/2 times as much and medicine will quadruple, Tass said.

The price of vodka will be 4 1/2 times as high.

Prices for coal, oil and gas will quintuple, gasoline prices will triple, and diesel fuel prices will nearly triple.

Prices of domestic electricity and central heating will triple, but rents will remain unchanged, Tass said.

Train fares will double, and airfares will triple.

Russian President Boris N. Yeltsin, who has become the leading force behind the demise of the former Soviet Union, has vowed to implement tough economic reforms to revive the economy.

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