More than half of Russians increased their spending in H1 2022
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.