Real expenditure of Russians fell by 5% in February

Research company "Romir" recorded the real expenditure drop in terms of inflation for the first time since 2007 which reached the record 5% in February. Consumer spending of Russians in nominal terms excluding inflation fell in January-February 2015 by 2.5%. Compared to February 2014 expenses increased by 9% in nominal terms, but this growth is completely ‘eaten up’ by inflation: real living expenses in February 2015 were 5% lower than the spending of the same month in 2014.