The Russians began to spend to the maximum (September 21, 2022)

Inflationary expectations of the population for the year ahead in September increased to 12.5% ​​(+0.5% versus August), observed inflation increased after three months of decline to 21.5% (+1% versus August). At the same time, in September, the propensity of households to consume increased to the maximum level since the beginning of the year. This follows from the information and analytical commentary of the Central Bank “Inflation expectations and consumer sentiment”.

“In September, the propensity of households to consume increased. The share of respondents who prefer to spend free money on buying expensive goods rather than saving up increased to 29.6% (+2.4% compared to August) – this is the maximum since January 2022,” the Central Bank said, citing data from a survey by LLC “infom”.

The consumer sentiment index of Russians fell to 97.8 points in September (-0.5 points versus August). For two months in a row, the index of expectations has also been decreasing (109.6 points, -1.1 points compared to August), which includes estimates of the prospects for personal financial situation for the year ahead and prospects for changes in economic conditions in the country. Despite this decline, the figure remains well above the levels of 2019-2021, the regulator noted.

The index of the current state of the population of the Russian Federation in September amounted to 80.1 points (+0.4 points compared to August). This indicator includes assessments of the actual change in personal financial situation for the year and assessments of the favorableness of the current moment for making large purchases. Its increase in September occurred only due to improved responses to large purchases, but respondents began to evaluate the change in their personal financial situation somewhat worse than a month earlier, the Central Bank stated.

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