Russians began to save less and have been accumulating

Sberbank introduced a new “consumer index of Ivanov”, which shows a change in the standard of living of a conditional representative of the middle class in Russia. For the fourth quarter of 2019, the mood index has improved from minus 24% to minus 15% to the year, follows from the release of the bank.

Thanks to the growth of real incomes of the population, the sensitivity of citizens to the price level decreased and the demand for the quality and assortment of food has increased, Sberbank analysts say. The readiness index for the purchase of expensive goods also showed positive: compared with the III quarter of 2019, it grew by 2% to minus 38%.

The IV quarter recorded the highest rate of savings in the Russians since the second half of 2015: it amounted to 8%. The share of respondents who have no savings decreased to 36%, compared with 41%recorded in the III quarter of 2019 and the IV quarter of 2018.

The respondents also asked the question of how much they are ready to spend on the celebration of the New Year: in the IV quarter of 2019, the estimated average check amounted to 8,879 rubles, that is, 17% more than a year earlier. The cost of buying food for the festive table increased by 10%.

The survey participants have shown markedly more optimism in assessing the prospects of employers: the assessment has reached the highest level since 2014, increasing per year from 5% to 13%.

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