“There are no objective economic reasons for the price increase for most food products in the country, now we may have one problem - excessive demand, which can lead to shortages and higher prices,” TASS quoted him as saying.

He also said that the FAS will conduct antitrust investigations according to information from the Association of Retail Companies on rising selling prices.

Earlier it was reported that the Federal Antimonopoly Service will conduct large-scale checks of information of deputies of the State Duma on rising food prices in Russia.