Some Russians are cutting back this holiday season due to the recent price increases for staples like butter, potatoes, and chicken brought on by stubborn inflation.
To learn more about how Russians are handling their money, Reuters conducted interviews in Moscow, St. Petersburg, Yekaterinburg in the Urals, and Omsk in Siberia.
Natalia Moreva, 58, stated that “prices have noticeably increased,” citing price increases for bread, flour, chocolates, fruit, vegetables, and meat.
“Incomes are sufficient, but when you go to the shop you used to be able to buy more,” said Moreva, who works for the Omsk regional administration.
Way higher in cost, it is tough on the pocket. In past New Years, costs roughly met the budget. Now, expenses are substantially greater, maybe up to four times more than before,” said Dinara, a student from Yekaterinburg, Russia’s fourth-largest city. Actual earnings have risen throughout Russia, mostly due to higher wages in the defence and technology sectors. But for many, salaries are not keeping pace with inflation, which continues to hover at more than 9%, despite the Federal Reserve maintaining interest rates at 21%, the highest in more than 20 years.
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