JRL NEWSWATCH: “Russians spend a third of their income on food” – bne Intellinews

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“Russian spend a third of their income (31.2%) on food, according to RIA Rating … [compared with] two years ago where the share of spending of food crept up to 55% according to VTB Capital (VTBC) …. While incomes have fallen dramatically in dollar terms so have prices … with heavy investment into domestic food and food processing industries in the last four years, expensive foreign food imports, that used to account for some 50% of all food on the shelves … [have] also fallen ….”

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