Russians spend more than one third of their salaries on food. Research holding ROMIR found out people had to spend 76% of wages got in January on food.
Experts compare these data with 1998-1999 years. In January 2008 expenses on food and nonfoods were 61% and 39%, in January 2009 this correlation was 76% to 24%.
These indexes turned out to be among the highest in Europe. Russian people spend on food more than our neighbors - Ukrainians and Belarusians. Apart from inflation rate (which has grown on 3,6% in January), wage reduction and unemployment had an impact on Russians? preferences. Due to the crunch demand on some food products in foreign countries has reduced, but in Russia we face growth. First of all essential products are demanded which are bought mostly by people with low income.
Growth of prices on bread is expected albeit prices on grain have steadied and the industry has faced peak volume of export. Bread can go up on 15-25%. The main reason for this - growth of cost on energy carriers, transportation and leasing of premises.
Analysts reckon, Russian economy faces stagflation when depression in industry conjoins with prices and unemployment growth. "Inflation will be restrained by low money supply growth rate, fall of consumers? and manufacturing activeness against unemployment growth and investments decline, says chief economist at Finam Management company. We can?t also exclude intensification of state control over price setting during the crunch. In total approximate inflation rate for 2009 is about 15%".
"This monitoring shows dramatic tendencies in the society, - says Arkady Shelihovsky, expert at Proteks group. Our people live from salary to salary, so decrease of financial wellbeing can cause discontent growth. The government can introduce special prices or even coupons on some products in order to support socially unprotected people.