Russians eat up a third of their income

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Russians eat up a third of their income
Russians eat up a third of their income
14 December 2020, 12:40Society
Russians consume almost a third of their income, while Europeans spend only 10% of their wages on food. These are the results of a study carried out by RIA Novosti.

Among European countries, residents of Luxembourg spend the least on food. They consume only 8.4% of the family budget income. Residents of the Netherlands and the UK spend 10.6% on food, in Ireland and Germany - 11.5% and 11.7%, respectively.

In the rating of the publication among 40 European countries, Russia was in 31st place in terms of spending by residents of the country on food - 29.7% of all income of Russians goes to food, the study notes. The last lines of the rating are occupied by Kazakhstan and Ukraine, whose residents spend almost half of their income on food (49.4% and 47.9%, respectively). Moldova, where residents spend 40% of their income on food, as well as North Macedonia and Bulgaria, whose residents spend 37.8% and 36.2% of their income on food, are also among the five countries with the largest spending on food...

Last week, Russian President Vladimir Putin drew attention to the excessive rise in prices for the most popular food products. At this rate, Russians will soon have no money for food, the president said. The President gave the Cabinet of Ministers a week to rectify the situation. Over the weekend, the government created a working group that will monitor the prices of socially important products and contain their growth.

Former head of the agrarian department of the government of the Russian Federation Leonid Kholod told why food prices rise so quickly during the crisis. According to him, this corresponds to the natural laws of the market: the higher the demand for certain goods, the faster the prices for them rise. Prices for services are growing more slowly, as business owners take on the increased costs. At the same time, experts do not exclude that as the economy recovers, prices for services will “catch up” with inflation.

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