15:01, 13 July 2022 Page views 541 views

More than half of Russians increased their spending in H1 2022

(no votes)

The increased spending was primarily driven by the price growth. At the same time, 68% of respondents declared their income stability or even increase, the survey showed. In the new reality of March-June 2022, 28% of Russians spent significantly more money than before. Another 32% reported a slight increase in spending. For 25%, the volume of expenses has not changed over this period. 10% began to spend a little less, and 3% – much less than before.

The most significant increase in Russians’ spending accounted for food and non-alcoholic drinks (56% of respondents), medicines (35%), clothing and footwear (28%), and household chemicals (27%). 26% said that all types of their expenses grew: most often this answer was given by residents of the Southern Federal District (37%) and the Far East (32%), while residents of Moscow and the Moscow Region answered this way least often (20%). 25% declared increased spending on transportation, including gasoline, 12% began to spend more money on alcohol.

38% of those surveyed reported their failure to reduce any spending in the past four months. This answer was given by 43% of respondents in St. Petersburg and the Leningrad Region, as well as in the Northwestern Federal District (each), 30% – in Siberia. At the same time, 28% of Russians reduced their spending on clothing and footwear, 26% – on alcohol, and 23% – on household chemicals. 9% had to cut all types of expenses.

89% of those who increased spending referred to rising prices as the main reason for the increase in spending. 6% began to spend more due to stockpiling and fear of a shortage of certain products, 4% did it because of the family growth. The main reason for the reduction in spending for 69% of those who reduced spending was the wish to save money against the backdrop of economic uncertainty. 26% cut spending due to job loss or drop in income.

Assessing the dynamics of their incomes, 21% of respondents noted their growth, 33% – a drop. Incomes of 47% of respondents have not changed over the past four months.