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Russians now spending half of their income on food

  • 19 May 14:34

Rising poverty levels due to a decline in real income are increasingly forcing Russians to go without non-essential goods. Experts do not see any potential for improvement in the situation in the near future. The number of poor Russians who had begun economizing on goods and services had increased to 89%. Source: Alexander Ryumin/TASS As real incomes continue to contract in Russia amid an ongoing economic slump, spending on foodstuffs is taking up a larger and larger part of the average citizen’s budget. In February 2016, for the first timein eight years, food and alcohol, along with tobacco products, were the main part (50.1 percent). Read more...