Book prices on rise in Russia

Book prices have risen by 15-20% over the past year in Russia, and it is expected that by the end of this year, the prices will rise by another 15%, the Russian Book Union (RKS) and publishing houses said, Report informs via Izvestia newspaper.

The newspaper notes that prices rose due to the increase in the cost of imported materials needed to print books, the rise in the cost of equipment and spare parts from Europe needed for book printing, as well as the increase in the cost of domestic paper.

“A combination of factors - shortage of paper, changes in the exchange rate - led to the fact that during the past year, the cost of book production increased by 30%. Market representatives held back retail prices, but still their growth amounted to about 15-20%,” the head of the local publishing group Eksmo-AST said.

The newspaper notes that book prices will continue to rise in 2023. According to the RKS forecast, the price increase will be 10-15%. In the first four months of 2023, the cost increased by an average of 5%.