Number of Russians living below poverty line ticks up to 14.3% of population in 1Q19

Number of Russians living below poverty line ticks up to 14.3% of population in 1Q19
Number of Russians living below poverty line ticked up to 14.3% of the population in 2Q19 to 20.9mn people.
By bne IntelliNews July 30, 2019

The number of Russians with incomes below the poverty line increased to 20.9mn people and reached 14.3% of the population in the first quarter of 2019, according to the Rosstat website. 

The overall level of poverty in Russia has moved up from 13.9% in the first quarter of this year (20.4mn people) due to the increase in inflation in prices that make up the reference minimum subsistence basket compared to the consumer price index, the report said. 

In particular, the subsistence minimum increased by 7.2% from RUB10,038 ($158) in the first quarter of 2018 to RUB10,753 in the first quarter while the consumer price index increased by 5.2% in the same period.

Rosstat used a new methodology for calculating real incomes of the population, introduced in April 2019. Rosstat stressed that an accurate estimate of the number of poor people will only be possible at the end of the year, when all seasonal and annual payments have been taken into account.

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