Russia Plans Food Fund to Regulate Prices, Kommersant Reports

Russia may create a fund to buy and sell food to help regulate prices as inflation accelerates, Kommersant reported, citing government documents.

First Deputy Prime Minister Igor Shuvalov ordered the Agriculture, Finance and Economy ministries to formulate mechanisms to regulate food prices, the Moscow-based newspaper reported today. The government may start with buying and selling potatoes, which have jumped 25 percent in price since the start of the year, Kommersant reported.