Bashkiria residents' expenses increased by 27%

In April - June of this year, households in Bashkiria spent 25.32 thousand rubles per month, considering expenses for food, all purchases and services, including housing and communal services, transport, and loans. Experts from the consulting company FinExpertiza analyzed Rosstat data.

These expenses in Bashkiria are 27.2% higher than in April - June 2022. The Republic was among the regions with the most increased costs. Also in this group are Belgorod (+67.5%), Magadan (+55.8%), Novosibirsk (+25.8%) regions, Yamal-Nenets Autonomous Okrug (+32.4%), Adygea (+27.1%), Komi (+25.9%). Analysts note that the Belgorod region's cost increase is associated with transport spending.

Households from only 10 regions of the country reduced consumption compared to a year ago. Interestingly, residents of St. Petersburg reduced their expenses the most - by 35.5%, to 30.6 thousand rubles per person per month. But such dynamics are associated with last year's high base - then the spending of St. Petersburg households soared abnormally due to increased car purchases.

“The increase in consumption was facilitated by an increase in household incomes, as well as the realization of pent-up demand and the population’s abandonment of the savings model of behavior. In addition, the growth in lending due to low-interest rates in the first half of the year was an important factor. Russians have adapted to the current economic reality, so consumption has returned to 2021. Ultimately, the expansion in demand began to exceed the supply of goods and services, which stimulated an increase in already normalized inflation. After the Central Bank’s key rate increases and the lending market cools, the share of those wishing to save free money on deposits will increase, and the consumer model will balance out,” analysts comment.

Author: Elina Akhmetova