Income, Poverty and Prices: Trends of 2016

Russian Economic Developments. Moscow, 2016, No. 8, pp. 33-37

5 Pages Posted: 21 Sep 2016

See all articles by Aleksandra Burdyak

Aleksandra Burdyak

Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute of Social Analysis and Forecasting

Elena Grishina

Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute of Social Analysis and Forecasting

Date Written: September 20, 2016

Abstract

In May 2016, households’ real disposable cash income, real wages and the real size of granted pensions decreased as compared to the respective period of the previous year. In Q1 2015, the poverty rate amounted to 15.7%, having fallen somewhat as compared to the same period of the previous year which situation is related to a dramatic reduction of prices on a number of food products included in the consumer goods basket. In H1 2016, consumer prices rose by 7.8% as compared to the respective period of 2015, having virtually returned to moderate values after a 16% surge in H1 2015. With further reduction of the rate of inflation, the poverty rate may fall this year. At the same time, the number of overdue mortgage loans and the volume of overdue mortgage debt are growing. Credit burden is particularly high among households with children.

Keywords: Russian economy, income, poverty

JEL Classification: I31

Suggested Citation

Burdyak, Aleksandra and Grishina, Elena, Income, Poverty and Prices: Trends of 2016 (September 20, 2016). Russian Economic Developments. Moscow, 2016, No. 8, pp. 33-37, Available at SSRN: https://ssrn.com/abstract=2841180 or http://dx.doi.org/10.2139/ssrn.2841180

Aleksandra Burdyak

Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute of Social Analysis and Forecasting ( email )

Prechistenskaya naberezhnaya 11
Moscow, Moscow 119034
Russia
+7 495 695 11 62 (Phone)

Elena Grishina (Contact Author)

Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute of Social Analysis and Forecasting ( email )

Prechistenskaya naberezhnaya 11
Moscow, Moscow 119034
Russia

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