In February, spending of compatriots increased by 1.9% compared with January, researchers of “Romira” found out. Moreover, such data have changed the long-term tradition: in February past years Russians spent less money, and now their expenses have broken the record for this month. According to analysts, inflation for the last month amounted to 0.4%. Accordingly, the increase in costs is five times higher than the rate of increase in prices. Over the past 12 months, household spending increased by 7.2%, which is also ahead of the accumulated inflation rate of 5.2% during this time, the study says
The increase in spending in February is associated not only with the purchase of gifts for Valentine’s Day and the Defender of the Fatherland, but also an increase in the share of food expenditures to 54% of the income level. In the previous two months, it was 1% less. This testifies to “a banal price increase with which no saving strategies can cope,” notes Romir.
“In fact, prices are rising even faster than both expenses and incomes of an average family. Given that costs are rising, sales of goods and services are even declining: in the face of rising prices, people have to tighten their belts. Many products have risen in price in half a year by more than half, so there is less and less money in the balance after obligatory purchases and payments, ”explained the chief analyst at TeleTrade GK Peter Pushkarev .
According to the expert, the February surge in spending would have manifested itself earlier, in January, if the population had free money after the New Year holidays. The main jump in inflation occurred in the first two weeks of January, but due to the fact that before the holidays, Russians traditionally spend on gifts, entertainment and on the New Year’s table, many are then forced to “suck their paw” before the end of the first month of the year. Therefore, they postponed serious purchases and expenses until the next salary was received, which was reflected in the increase in expenses in February.
It is curious that according to Romir, people with low and high incomes turned out to be the most “wasteful” in February. Their expenses increased about the same: by 3.4% and 3.5% compared with January. In turn, middle-income consumers were stable in their spending: they spent 0.6% more.
“It’s all the fault of the VAT increase that occurred at the beginning of the year. First of all, prices rose for goods with a high turnover, namely foodstuffs, ”explains Gennady Nikolayev, an expert at the Academy of Financial and Investment Management,“ This explains the difference in expenditures by social groups: the rich have to spend much more to maintain their normal lifestyle, whereas the middle class is more willing to switch to cheaper goods and ceases to acquire certain categories in terms of cost savings. At the same time, people with low incomes have nowhere to cut spending, which is why they have to increase the costs of necessary goods and services. ”
The expert added that the growth of the cost of products with a long shelf life still awaits us. “And, as soon as stocks from warehouses are sold out, there will be another rise in prices, including for goods that have already risen in price: enterprises and retailers will face increased costs, which will primarily affect the final consumers. Everything will depend on the exchange rate of the ruble and the cost of gasoline. Most likely, citizens’ expenses will increase by another 8% by the end of this year, ”concluded Gennady Nikolaev.
“Romir”: Russians have increased daily spending
No cost saving strategies can cope with rising prices.
Contrary to the tradition that has developed in recent years, spending by Russians in February increased compared with the first month of 2019. At the same time, the most “wasteful” turned out to be citizens with low and high incomes: their expenses increased by 3.4% and 3.5%, respectively.
In February 2019, the Russians increased their daily spending despite the tradition that has developed over the past few years. This is evidenced by the results of a study published by the holding “Romir”.
According to experts, the increase in expenses in February is not only associated with additional purchases on February 14 (Valentine’s Day) and February 23.
“The growth of the average check and the increase in the share of expenditures on products up to 54% indicate a banal rise in prices, which no saving strategies can cope with,” the study notes.
At the same time, citizens with low and high incomes turned out to be the most “wasteful” in February: their expenses increased by 3.4% and 3.5%, respectively, compared to January. While consumer spending with an average level of earnings increased by only 0.6%.
Russians spending rose for March 8
Microloans taken for gifts are unlikely to be repaid
Many Russians were paid before the holidays, that is, there was something to spend. In addition, Russian men intended to take 250 thousand microloans for gifts for the International Women’s Day. The total amount of loans for these purposes is more than two billion rubles.
The 10th week of the year was marked by the celebration of the International Women’s Day March 8. And this fact was reflected in the total daily spending of Russians . Over the week, they added 7.8% relative to the previous one and reached a size of 4821 rubles. Reports about it research holding “Romir”.
At the same time, experts note that in the same period last year, Russian spending grew even more significantly. And compared with the festive week of 2012, spending by residents of the country on the eve of March 8, 2019 increased by 65%.
Earlier it was reported that Russian men intended to take 250 thousand microloans for gifts for the International Women’s Day. The total amount of loans for these purposes is more than two billion rubles. According to analysts, it is unlikely that these funds will be returned in full, since the decision to issue a microloan for gifts during the holidays is made on emotions.
We add that the list of the most popular gifts did not suggest credits: most often men gave flowers, perfumery, cosmetics and sweets for March 8 to women. However, there were those who spent on jewelry, home appliances, smart phones and bags. The holiday cost them the most, and perhaps borrowed funds were required.