Russians spend a third of their income on food

Russians spend a third of their income on food
Russian spend a third of their income (31.2%) on food
By bne IntelliNews December 17, 2018

Russian spend a third of their income (31.2%) on food, according to RIA Rating, which studied the cost structure of citizens of 40 countries of Europe, as well as Russia, Kazakhstan and Turkey.

Luxembourg spend the least of all on food (8.7%). They are followed by the UK (10%), the Netherlands (10.6%) and Ireland, Finland, Austria, Norway and Switzerland all spend 12%.

Ukrainians spend the most, where food takes up 50.9% of the domestic budget, and then Kazakhstan with 46%.

The third Russians spend on food is a significant improvement from two years ago where the share of spending of food crept up to 55% according to VTB Capital (VTBC) and is on a par with the boom year level of spending. While incomes have fallen dramatically in dollar terms so have prices and with heavy investment into domestic food and food processing industries in the last four years, expensive foreign food imports, that used to account for some 50% of all food on the shelves (and over 60% in the big cites) has also fallen dramatically.

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