Urals: Locals’ Spending Down 0.8%

UrBC, Moscow, December 14, 2017. Russians’ everyday spending kept rising in November (up 2.4% on October 2017), which is actually far above the monthly inflation rate (0.2%). At the same time, people living in the Urals spent 0.8% less money last month than in October, Romir refers to its research findings as indicating.

Russians spent 3.7% more money in November compared with the start of the year, which was also 2.5% ahead of the yearly inflation rate.

‘November increase in spending usually has to do with the seasonal shopping for food items and New Year’s gifts. This year is apparently no exception. Shoppers living in towns with populations of 500,000 to 100,000 people proved the primary driving force behind increased spending, as they spent 4% more money last month than in the previous months. People in the low-income groups also preferred to spend 3.7% more money on food and gifts in November (compared with October) in order to avoid seasonal price increases. At the same time, people in the higher-income groups also spent 7% more money last month than in October,’ the research states.

People’s everyday spending rose throughout almost the entire country, with the exception of the Urals, where the spending figures dropped by 0.8%. In the rest of Russia, people spent more money last month than in October 2017.

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