Over three-quarters of Russians have a positive outlook about their family’s financial situation, a recent poll has shown, as the world’s largest country faces high inflation rates and rising prices.
The survey of 1,600 people was published on Tuesday by the Russian Public Opinion Research Center, and uncovered people’s attitudes towards their current economic circumstances.
A total of 17% of people surveyed described the financial situation in their household as good last month, the highest figure since November 2020. Meanwhile, 59% said that it was average, and 23% said it was bad.
Less than half of respondents (48%) said they are currently satisfied with the lives that they lead, while a quarter said they were partly happy. However, 26% of people polled said they were generally not content.
The Covid-19 pandemic has seen prices for basic products rise, hitting consumers across Russia and many other developed countries. The majority of those surveyed (61%) believe that the most difficult times still lay ahead. Meanwhile, 16% of people answered that the nation is experiencing the darkest moments of the economic downturn now, while 14% said that the worst has already blown through.
The results of the poll come after the Bank of Russia issued its second 100-basis-point hike in interest rates this year. Speaking last week, Russian President Vladimir Putin defended the move, stating that “if we do not do this, Russia will face the same problems that Turkey is currently dealing with,” referring to issues that Ankara is facing with the Turkish lira in recent weeks after its central bank slashed interest rates despite high inflation.
Last month, the head of Russia’s Central Bank, Elvira Nabiullina, said it was necessary to halve the rate of inflation from around 8% to a target of 4%. She also warned about the alarming increase in food inflation, which she said had “spiked in the double figures.”
“If we miss inflation now, the least-protected groups of the population will suffer,” she cautioned.
A survey in August by the Levada Center, which is registered as a foreign agent in Russia over links to overseas funding, said that nearly two out of every five citizens had gone without food and drink due to a lack of money in the past six months. The poll also found that nearly half of all Russians had to forgo purchasing clothes and shoes because funds were tight.