Indeed, the share of respondents who prefer to save their free money…
Indeed, the share of respondents who prefer to save their free money rather than spend it on expensive goods amounted to 47.9% (a decrease of 6.5 percentage points month-on-month; a reduction of 3.1 percentage points year-on-year).
Consensus
- The willingness of Russian citizens to save money decreased significantly in July.
- The share of respondents preferring to save rather than spend on expensive goods fell to 47.9% in July.
- This level is the lowest since March 2015, according to the Central Bank of Russia.
- The decline occurred month-on-month and year-on-year.
- Inflation expectations rose in July, with respondents reporting higher prices for fuel, housing and utilities, and medical services.
Points of divergence
- Consumer sentiment index (IPN) dropped by 8.3 points to 89.5%, with expectations falling by 11.4 points into pessimism zone (below 100). — tg_moscowtimes_ru
- The share of people who believe it is a bad time for savings rose to 34% and those who think it's good dropped to 26%, both the worst levels in 2.5 years. — tg_moscowtimes_ru
- People’s confidence in banks and cash as storage methods declined by 2 percentage points each, while more people chose mixed or alternative savings forms. — tg_moscowtimes_ru
- The share of respondents who prefer to spend increased to 32.7% (up 4.1 p.p. month-on-month). — interfax
Coverage (2 sources)
- Russian savings sentiments have plummeted to a minimum since 2015 — The Moscow Times
- Central Bank of Russia notes significant decline in Russian population's propensity to save in July — Интерфакс