The ruble is declining, and now more Russians are cutting back on basic commodities like food and toothpaste as prices rise

• The value of the Russian ruble continues to fall, forcing Russians to cut back on their spending.

• A recent study found that more Russians are reducing their purchases of essential goods such as food.

• Earlier this month, the Russian ruble fell to a 16-month low against the US dollar.

the The ruble has depreciatedThis forced the Russians to cut back on buying basic commodities such as groceries, toothpaste and soap due to the sharp rise in prices.

According to the Aug. 16 survey published According to the Russian research company Romer, in July 19% of respondents reported that they cut their spending on food and basic commodities to save money.

That number was up from 16 percent in June, according to the survey.

“Against the background of the current economic situation and high prices, the Russians are trying to save money,” said Ksenia Bizhanskaya, director of Romer.

And Bizhanskaya noted that Russians “find alternatives to familiar products that can be bought at reasonable prices. This explains the increase in the share of such responses over the past month.”

earlier this month, The Russian ruble fell to a 16-month low against the US dollarIt is the lowest level for the currency since Russian President Vladimir Putin launched his invasion of Ukraine in February 2022.

The unjustified war has led to massive Russian military spending, as well as crippling Western sanctions against Russia.

Janis Kluge, economist at the German Institute for International and Security Affairs, Tell “The Russian people have been insulating themselves from these political developments, but the rate of inflation is something they cannot insulate themselves from because they have to pay,” the Washington Post said in a report published on Wednesday.

“It’s the way politics really meddle in their lives, and that’s the part that worries the Russian leadership,” Kluge added. “Because no publicity is going to make this go away.”

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