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Russians Spend More Than 50 Percent Of Income On Food
April 22, 2016 18:25


The Russians began to spend more than 50 percent of income on food, abandoning non-essential goods, in the conditions of poverty level increase. This is written by “Kommersant” with a reference to the study of the Institute of Social Analysis and Forecasting of RANEPA under the Russian President.

In February 2016 food, taking into account alcohol and tobacco, occupied a large part in the Russian retail trade turnover - 50.1 percent - for the first time over eight years. Last time such a balance was observed in the last crisis of 2008-2009. Experts see no prospects of improvement in the near future.

The institute experts calculated that the real incomes of Russians decreased by 6.9 percent in February in comparison with the same period of last year, and real wages - by 2.6 percent. Poverty level increased by 2.2 percentage points - up to 13.4 percent – at the year end. The decline in living standards is marked by 50 percent of the population, as it follows from the monitoring of RANEPA. The proportion of poor Russians who began to save on goods and services increased by 0.6 percentage points - up to 89 percent - in March 2016, while the share of the middle class increased by 3.9 percentage points – up to 79.3 percent. 55.8 percent of respondents are ready to refuse from the purchase of everyday products.

According to the data of RANEPA, food prices grew the least –by 6.9 percent - in the first quarter of 2016. The driver of price growth was non-food products that became more expensive by 9.7 percent and services - by 8.5 percent.


Author: Anna Dorozhkina


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