philly1121 said:
Cal88 said:
DiabloWags said:
philly1121 said:
88, one vlogger? One. One store? ok. yeah. I'm going to believe Natasha Rostova - the Tolstoy shopper. lol
The statistics came from Rosstat - Federal State Statistics Service. The official Russian statistics service that is responsible for tracking economic statistics. For some fun tables to look at, check the link below. Scroll down a little bit and you will see the table, Largest Price Increases in Food Stuffs.
https://www.rferl.org/a/russia-food-prices-inflation-interest/33244563.html
Comrade 88, your dedication to Mother Russia is good. Not great. Just good. But we must turn to precious energies to Trump deliver needed victory, yes? Must move you to monitor butter aisle in Perekrestok in St. Petersburg, da?
Comrade 88 and Zipper are nothing but Russian trolls.
Totally clueless and in fantasy land.
Rosstat also reported (via Reuters) just before Xmas that INFLATION was running at 9.5% for 2024.
As a result, their interest rates are at 21%
The central bank's monetary policy department's head Andrei Gangan told the Interfax news agency on Dec. 24 that full-year inflation will be between 9.6% and 9.8%.
Russia's doing Great!
Russia's inflation reaches 9.5% this year, weekly data shows | Reuters
Inflation in Russia has been in the high single digits, however salaries have been growing in double digits, at about twice the inflation rate. The purchasing power of Russian workers has been rising.
So the whole premise of food riots because the price of potatoes has gone up from 17 cents per pound to 20something is pretty stupid, but par for the course for card-carrying members of the Pro-war Low-info Russophobe Bear Insider Club.
Here's the real picture:
Carnegie Endowment:
Russia's Soaring Wartime Salaries Are Bolstering Working-Class Support for Putin
Many formerly badly paid Russian blue-collar workers have seen their salaries skyrocket since the full-scale invasion of Ukraine, far outpacing inflation.
https://carnegieendowment.org/russia-eurasia/politika/2024/05/russia-war-income?lang=en
Quote:
it can be said with confidence that real incomes have risen faster than inflation since the full-scale invasion.
How are Russians spending this money? The answer seems to be that they are both spending more and saving more (a trend that the head of Russia's central bank, Elvira Nabiullina, has described as odd).
According to the central bank, the amount of rubles held in Russian bank accounts climbed 19.7 percent to 7.4 trillion in 2023 (nearly three times what it was in 2022), buoyed by high interest rates. In particular, there has been growth in the category of deposits worth between 3 million and 10 million rubles (both in terms of their total value and in the number of people holding such deposits). In other words, a lot of people are prepared to hold sizable sums in the bank, and they appear confident that there will be no disaster in the near future.
Quote:
Russia Real Wage Growth Quickens to 8.5% in December
Real wages in Russia rose by 8.5% year-on-year in December 2023, accelerating from a 7.2% advance in November. It marked the 15th consecutive month of real wage increases. Meanwhile, average nominal wages grew 16.6% from a year earlier to 103,815 roubles and jumped by 41.5% over the month. The annual inflation rate in Russia was 7.4% in December 2023. Real wages grew by 7.8% in 2023. less
2024-02-28
Quote:
Real wages, which are adjusted for inflation and reported with a one-month lag, leapt 12.9% year-on-year in March, the statistics service, Rosstat said, above analysts' expectations.
One word 88: bubble
This wage growth is entirely supported by the government. From economist Natalya Zubarevich in an interview with Russian Bild:
"The dampening effect will slowly manifest itself, because this crazy increase [in wages] is not supported by labor productivity growth, but is the result of huge [injections] of money, mainly from the federal budget, into the economy, mainly into the military-industrial complex, but spreading to other types of activity," she said.
According to Zubarevich, many companies will stop raising wages in the future, with inflation eating into workers' real incomes. Rising wages, inflationary increases, 21% interest rates. If this were the US, you'd be yelling to overthrow the government. lol
That economist also predicted 3 years ago that the Russian economy would collapse from sanctions. Apparently she is a favorite among pro-NATO sources like Bild or the WSJ:
"Meet Natalia Zubarevich, a Russian Who Speaks Truth to Power
She's a podcast regular,
running down the reasons sanctions over the war in Ukraine are working despite Putin's claims."
https://www.wsj.com/articles/meet-natalia-zubarevich-a-russian-who-speaks-truth-to-power-santions-political-views-economy-putin-kremlin-11656359132She's been very, very wrong on that prediction, as 3 years later the sanctions did not work. She predicted for example that the Russian auto industry would collapse, it is now back to production levels above pre-war levels. Several other key sectors have been resurgent as well. Russia is even making legacy chips today. The sanctions on Russian oil and gas exports have not worked, in fact Europe right now is buying more Russian gas, at higher prices (LNG instead of piped gas).
It also goes to show that dissidence is allowed in Russian academia, that professor hasn't lost her university position despite her continued negative assessments of Russian policy.
As to her prediction above about Russian economy cratering, I think she will be wrong once again, because the war is not likely to go on that much longer, Russia is pressing its military advantage and will overwhelm Ukraine within a year or two, at which point the Russian military budget will draw back.
Ultimately, even if the flows of oil and gas to Europe are disrupted, Russia will be diverting most of its fossil fuel exports to China, which will pay a premium for Russian oil and gas as it cannot be blockaded and will be sent in through pipelines (minimal transport/transit costs through Mongolia).
