The Russians continue to get poorer: the income is decreasing for the fourth consecutive year

The Russians in the beginning of 2018 again sharply reduced costs. As the research holding “ROMIR”, after rising in December by 15.9% in January, spending of the population decreased from 19.3%. This behavior of citizens authors of the study called traditional trend. If at the end of 2017, our compatriots all literally swept from the shelves in anticipation of new year holidays, now the agiotage slept. Experts, however, the January decrease in costs explained primarily by the decline in real incomes, which reduced the fourth consecutive year. According to Rosstat, at the end of 2017, the wallets of the Russians “lost” 1.7%.

photo: Gennady Cherkasov

According to “ROMIR” on the background of General decline in spending in January also reduced the size of the average check by 10%. The researchers attribute this to the fact that citizens are now less likely to visit the stores. Moreover, they now don’t need to spend money on gifts that people are actively bought before the new year holidays.

Naturally, the most economical in January were citizens with low income. Over the month, their expenditure decreased by 21.4%. However, reduced their appetites and people more prosperous. Citizens with high income level have reduced spending by more than 20%.

Least decreased the volume of its expenditures in the first month of the year the Russians with average income of 17.9%. “The Russians realize that in December, spent more of its capabilities and compensate for this low cost in January”, — says General Director of “Mani Fanny” Alexander Shustov.

However, the main reason for the savings of the population still have their income. “If you look at the statistics on the dynamics of real incomes of the population, they are the last three years have steadily declined. Was no exception and 2017, revenues declined by 1.7%”.

According to Global FX investment analyst Vladimir Rojankovski, a protracted fall in incomes for several reasons. The first is the effect of import substitution, which allowed us to reduce mandatory spending on consumer goods, almost completely exhausted. Second, export — oriented economy of Russia. “Exporters receive foreign currency, but pay the price with their workforce in virtually any devalued. As a consequence of very weak demand for durable goods, such as apartments, cars, household appliances,” — says the expert. In his opinion, this year incomes can return to the growth zone, but wait for a decent plus is not: “the New growth drivers of the domestic GDP, and therefore income is not observed”, — the expert continues.

In addition, according to Shustov, a major role in the decline of incomes is the state, which reduces subsidies, refuses to index pensions to working pensioners, and also replace the indexing of a one-time payment. “This policy remains. If real incomes continue to fall, the cost reduction per month is small, but stable at around 0,3-0,5%, with seasonal spikes during the may holidays in September, and failure in the middle of summer. The reason for The significant growth of the cost may be, except that the sharp rise in the cost of oil and the change of the state subsidy policy, or a sharp rise in labor productivity and consequently wages. But while it’s unlikely,” — said Pasha.

As falling real incomes:

2017 is 1.7%

2016 — 5,9%

2015 is 3.2%

2014 — 0,7%

official channels

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