OREANDA-NEWS. In the coming weeks, a record increase in food prices is expected in the Czech Republic, said Dana Vecherzhova, a representative of the Food Chamber of the Republic. Food suppliers will be forced to raise prices, she said, as costs have risen sharply in the country over the past three months. It is expected that on average, by the end of the year, products in the Czech Republic may rise in price by 25-30%, reports EADaily.

The fact is that in their contracts with retail chains, manufacturers must announce and fix prices in advance for three months in advance. Now this period is coming to an end. I'm afraid that in the near future there will be a new price increase,” she said.

As Vecherzhova explained, due to the increase in prices for gasoline, electricity and gas, which make up the cost of production, suppliers in new contracts will be forced to raise selling prices. Producers are not able to cover these costs on their own, so they pass them on to final prices.

Earlier, economic commentator Anthony Rowley suggested that the West's sanctions war against Russia, China and other countries could provoke a global economic catastrophe. The restrictions will lead not only to shortages of energy and food, but also to the collapse of industries, as countless supply chains on all continents will suffer, he said. The result of the sanctions war will also be a global recession, rising prices and stagnation in production.