Russians for the first time in eight years began to spend on food over 50% of revenue


For the first time since last crisis of 2008-2009, the Russians began to abandon the goods are not necessities and spend more than 50% of income on food. About it writes on Tuesday the newspaper “Kommersant” with reference to the data of monthly monitoring of socio-economic status and health, Institute of social analysis and forecasting Ranhigs under the President of Russia.

So, according to information obtained, in February of 2016 foods with the alcohol and tobacco took the largest part making up 50.1% in turnover of retail trade of Russia. In 2015, the food took 48.6% of the turnover, and in 2014 to 47 percent, the newspaper said.

The newspaper reminds that the previous record was registered in may 2009. If the product had 49.6% of retail turnover.

“There is a trend increase in the share of spending on food, logically reflecting a decrease in real income <…> and the growth of poverty,— it is known that the poorer the household, the greater part of the budget it spends on food”— explain the authors of the monitoring.

From monitoring the Ane, it follows that in February 2016, the real incomes of Russians in comparison with the same period last year decreased by 6.9%, real wages by 2.6%. The level of poverty by the end of 2015 grew by 2.2 percentage points to 13.4%. The decline in living standards notes 50% of the population, the report said.

The authors note that a response to negative phenomena in the economy has been the decline in consumer activity. In the saving mode included not only poor, but also middle layers. According to Ane, the proportion of poor Russians who began to save on products and services, in March 2016 rose 0.6 percentage points to 89%, and the proportion of middle class increased by 3.9 percentage points to 79.3%.

In monitoring the Ranepa said that in the first quarter of 2016 food prices increased the least — by 6.9%. Driver of growth in steel prices of manufactured goods, which grew by 9.7%, and services — by 8.5%.