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Prices Rise in Russia
The depreciation of the ruble, the international sanctions and steps of back response taken by the Russian government has resulted in price growth on food products in this country. The Independent research company of Bashkirova and partners has conducted an all-Russia survey in order to see if the Russian citizens have noticed the rising of prices and how sensitive these appear to them.
Nearly two thirds of Russians (60%) have noticed significant rise in prices for food products. According to the additional third of respondents (32%) there has been some price rise, still not significant. Only 5% of the survey participants had no notice of this at all.
Based on a social status different categories of consumers are evidently viewing significance of food price rise differently. Elderly people of the retired and pre-retired age (i.e. those above 55 y.o.) are found to be most vulnerable towards price growth. These are also non-employed housewives (by 18 p.p. higher than mean across the sample), and the unemployed people (showing sensitivity even towards small rising in price on essential goods), who have sensed the considerable price rise. We should also note that office workers, having noticed the price growth though, consider it insignificant.
According to RBC data, despite the modest inflation officially stated rates (5,3% over the winter half of 2014), starting from the beginning of 2014 food products prices have really shown significant growth per following food products: onions - by 39,6%, potatoes - by 32,3%, sugar - by 20,3%, pork - by 19,1%, chicken (chilled) - by 15,6%, curds - by 9,6%, butter - by 9,1%.
Such a price growth could be found unnoticed by middle class people, and yet appear quite sensitive for the retired and representatives of other socially vulnerable population segments.
This study was being conducted late August 2014 based on all-Russia random route sample (18+) by means of face-to-face interviews in place of residence. Altogether 1500 respondents in 8 federal districts, 150 settlements, 200 sample points have been surveyed. The sample error makes up 2,5%.