Russians’ Factual Income Keeps Dropping

UrBC, Moscow, December 5, 2016. Russians’ factual income and consumer demand keep going down, banki.ru refers to Head of Accounts Chamber Tatiana Golikova as stating.

‘Consumer demand has been in decline for the second year in a row. This year, people’s spending is estimated to go down by 4.6% (compared with 5.3% in the ten months of the year), which is directly related to people’s shrinking incomes (-5.6% by the end of the year according to the government’s forecasts),’ Golikova said.

The official also said consumer prices would go up a little faster in December than in the previous months, but the overall annual inflation figures would not exceed 5.8%.

‘Consumer prices might rise a little more in the winter season, but by no more than 0.5%. Based on our estimates, the yearly inflation rate will stay within the 5.5% to 5.8% range,’ Golikova claimed.


Other materials on the topic::