In February of this year, daily expenses of St. Petersburg residents increased by 1.7% compared to January. Over the year, St. Petersburg residents generally showed an approximate increase in expenses of 17.3%. Such data is provided by the Romir research holding based on the Romir Scan Panel of households. According to experts, the savings strategy has paradoxically led to an increase in consumer spending.

Call of the shops

In the country as a whole, daily spending by Russians increased by 4.1% compared to January, which is noticeably better than the official monthly inflation rate of 0.6%. Year-over-year, February spending by Russians increased by 16.8%, which is twice the inflation rate of 8.1% accumulated since February last year. Muscovites, meanwhile, reduced their spending by 0.7% in February. And relative to February last year, their expenses increased by only 7.1%.

Interestingly, in previous years, the Consumer Activity Index behaved differently in February. So, last year it continued to fall after the New Year’s surge. And in 2014 and 2013, daily expenses in February showed an increase of 3-5% compared to the previous month.

If we talk about the real expenses of Russians, i.e. cleared of inflation, then at the end of February the situation improved slightly. Real spending last February was only lower than the results of the prosperous beginning of 2013. That is, the multi-month trend of last year, when real expenses were less than even the figures for 2014, was interrupted.

After a frugal January, when Russians to some extent continued to eat up their pre-New Year supplies, February again called them to the shops. Moreover, the negative dynamics of the size of the average check coupled with a general increase in expenses indicates that customers have again begun to go to stores more often. By visiting a larger number of retail outlets, in each they find some goods at attractive prices. Even if they spend less on each purchase, they increase their overall spending on everyday items.

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Thus, the savings strategy, expressed in an increase in the frequency of trips to stores while reducing the average bill, did not lead to savings, but, on the contrary, to an increase in expenses, Romir experts believe. This trend was noted last year. Two-thirds of households that increased the frequency of shopping trips, while reducing the average bill by 4%, ultimately saw an overall increase in spending on everyday goods by 21%.

The largest increase in expenses over the month was shown by representatives of the low-income group +7.7%. The middle class spent 5.8% more in February than the month before. But high-income earners did not change their expenses in any way in February, spending exactly the same amount as in January.

Over the year, expenses increased by more than 19% among low- and middle-income earners. And high-income earners showed an increase in daily spending by 12%. In any case, representatives of all income groups showed an increase in expenses that exceeded accumulated inflation.

Candies with margarine

Meanwhile, prices for consumer goods in St. Petersburg continue to rise. The day before, Petrostat published statistics on food prices in St. Petersburg stores for February 2016. The most expensive thing in the city last month was margarine - its price increased by 13% compared to January. Prices for chocolates increased by 8.6%, semi-smoked sausages increased by 7.5%, cereals increased by 5.8%, and the price of salted herring increased by 5.6%.

The price of smoked fish rose slightly less (by 4.5%), and vodka by 2.8%. Prices for flour increased by 0.9%, for mixed feed - by 0.7%, for bakery products made from wheat flour - by 0.2%.

Prices for milk, baked goods made from rye and a mixture of rye and wheat flour, cookies, as well as soft drinks remained at the January level.

Only salted fish (except herring) became cheaper (by 10%), beer (by 3.3%), boiled sausages (by 0.9%) and pasta (0.2%). In February, there was also a decrease in prices for skin care products, makeup and skin protective products (by 9.4%) and cigarettes (by 7.1%).

The savings are costing St. Petersburg residents a pretty penny