In real terms, adjusted for the inflation, consumer spending rose by 0.97% in August compared to July. Nevertheless, it is still less than in previous years, according to Romir Research Center.
In July, Russians’ real consumer spending fell by 4.7% after rising by 2.5% on a monthly basis in May and June. Compared to July, in August the daily expenses traditionally increased – by 1.4%, which is 1 percentage point higher than the official inflation rate for August.
The Russians tend to buy products with promotional prices, thus compensating the difference in price growth.