Russians spend more on foodstuffs
Russian people are spending more and more of their income on foodstuffs. In January the average Russian spend 76 percent of his expenses on livelihood.
According to numbers from the Russian market research company Romir, the index of household consumption of goods in January 2009 rose with 37,4 percent compared to January 2008. Social scientists believe the rise is connected with inflation, problems on the labor market and the overall economic situation. The economic crisis has not only had implications on people’s spending, but also their savings. Those who still are able to put away some of their paycheck, are saving less and less money.
The experts believe that the fact that Russians spend 76 percent of their expenses on food should be an alarm signal for the authorities. In more developed markets people normally spend less than 20 percent of their paycheck on livelihood.
