Russia’s Middle Class Is Shrinking

25 October 2016 (14:56)

UrBC, Moscow, October 25, 2016. 51% of urban-living Russians consider themselves middle class, according to Sberbank CIB’s this year’s survey of respondents living in cities with population of 100,000 or more, Kommersant reports.

The number dropped by about 7.4m in the last two years, as actually about 60% of those surveyed said they were middle class in September 2014; on the national scale, the decrease stands at 14m.

‘A Russian’s average ‘middle-class’ income came to 37,000 RUR a month in September 2016 against 31,000 RUR two years previously. These days, you can only feel ‘middle-class’ with 31,000 RUR a month if you live somewhere provincial. However, given the 23% inflation rate in 2014-2016, this difference can be seen as moderate. On the other hand, people’s nominal incomes and average monthly pays only rose by 11% and 13% in the last two years, respectively, which is even more moderate,’ the newspaper states.

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