Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Vodka to Rise 30%

MOSCOW -- The Economics Ministry on Thursday announced that factory, wholesale and retail prices for vodka and other spirits registering over 28 percent alcohol content will be raised by between 30 percent and 40 percent, effective Feb. 25.

Once in effect, factories will no longer be permitted to sell vodka to wholesalers for less than 56 rubles per 1-liter bottle, wholesalers' minimum selling price will be 60 rubles and retailers must sell for no less than 62 rubles. The last time the price of vodka was raised, in March 1999, a 1-liter bottle cost 47 rubles retail, or about $1.65.

The federal budget this year expects to collect nearly 5.5 million rubles ($176,000) from excises on spirits, while year 2000 regional budgets hope to rake in 6.7 million rubles ($236,000).