Real disposable incomes of Russian citizens decreased by 1% in the… (доход · снижение · ключевой)
Real disposable incomes of Russian citizens decreased by 1% in the first quarter of 2026 due to reduced interest rates on deposits following a cut in the key rate by the Central Bank of Russia, along with inflation, rising utility tariffs, and expensive loans. Experts do not anticipate further deterioration in the second half of the year.
Consensus
- Real disposable incomes of Russian citizens decreased by 1% in the first quarter of 2026 compared to 2025.
- The decrease is linked to a reduction in interest rates on bank deposits after the Central Bank of Russia lowered its key rate from 16% to 14.25% at the beginning of the year.
- Maximum deposit yields in major banks fell from 15.1% in January to 12.8% by late June.
- Inflation, rising utility tariffs, and expensive loans contributed to the decline in household incomes.
- Experts do not expect a significant worsening of the situation in the second half of 2026.
Points of divergence
- The Ministry of Economic Development expects real incomes to grow by 0.8% for the full year of 2026. — riamo
- The impact was felt most strongly by depositors and individuals with income from their own business. — riamo
Coverage (2 sources)
- Real incomes of Russians fell after key rate cut — РИАМО
- Experts say Russian incomes have fallen due to key rate cut — Вести