Russian households’ spending in June fell in monthly terms for the first time this year, according to a new study by Sberindex analysts.
“In June, we fix the first monthly reduction in household spending in 2021. According to Sberindex, the seasonally adjusted change amounted to -0.37% m / m,” it says.
In the previous months, the dynamics were positive. However, now experts warn that the phase of “rapid” recovery of consumer demand in Russia “at least interrupted.”
At the same time, in the period from June 28 to July 4, the consumer activity of citizens was close to trend levels. Thus, the normalized increase in household spending amounted to 6.3% in nominal terms compared to the pre-pandemic period from February 1 to March 15, 2020. In annual terms, the growth was only 0.8% against 8.3% a week earlier.
Expenditures on food products decreased by 3.5% compared to the same period last year, and on non-food items – by 2%. At the same time, an increase of 10.3% was recorded in the service sector.
Analysts also pointed to a reduction in spending by Muscovites in public catering in the week from June 28 to July 4. It was at this time that new requirements came into force for admission to such institutions only for those people who were vaccinated against coronavirus, had had COVID-19 or received a negative PCR test. The decrease was 12.3% compared to the previous week. In the Bars and Clubs segment, expenses fell by a third, in restaurants – by 21%, in fast food – by 7%.
New restrictive measures began to be introduced in Russian regions against the backdrop of an increase in the incidence of COVID-19. According to the headquarters, on July 4, 25,142 new cases of infection were detected in the country, which is a record figure since January 2. Over the past day, the infection was found in 23,378 citizens. The total number of cases during the pandemic reached 5 658 672. Of these, 139 316 died.
.