The Russians because of the pandemic, switched to cheaper bread

Economic impact of a pandemic coronavirus infection COVID-19 adjusted preferences of Russians in favor of cheaper bread. This was during a forum on the development of the bakery, said yesterday the Executive Director of the Association of producers and suppliers of food products “Rusprodsoyuz” Dmitry Vostrikov.

“it Turns out the transformation in the cheaper segment, while maintaining the highest margin segment, that is to say that the middle segment is redistributed towards more low solvency of the population, and I think this trend is that, unfortunately, will continue”, — TASS quoted the expert.

Recall, last week published the results of a study of Nielsen, according to which the decline of income due to restrictions imposed in the fight against the spread of COVID-19, forced Russian consumers to be more attentive to prices and more efficient spending. In may, the share of low price segment in food and goods of daily demand reached 17.7% against the annual average of 16.9%. The share of products of the premium price segment was reduced from 35.8% on average for the year to 34.4% in may.

Meanwhile, the “ROMIR” has estimated that last month, Russians spent on food to an average of 42% of the total cost. According to experts of research holding “in may, the total expenses of an average Russian family has made 57.6 thousand rubles, which is 1.4% higher than in April, and 13.5% below may of 2019”. “The cost of food (Food Index) in may was equal to 23.9 thousand. The share of expenditure on food amounted to 42%, which is one of the highest values of the index. Compared with April, the index decreased by 8.7%. At the same time against the last year index rising by 32.9%”, — stated in the review.

in the “Romira” note that “, etc.editude the value of the index was the highest during the observed period and was a result of the reduction of well-being and mood of the population, rising prices and the quarantine measures.”

Experts also believe that, “despite the positive trend, expressed in a reduction of cost of food and the growth of total expenditures, the index adopted the current value (much higher than the average for the season) against the background of greater certainty buyers: need for purchase of goods for a long period may have buyers already.” “This suggests that now the effect on the index have a structural rather than temporary factors. In the coming months the index will be adjusted in the direction of stabilization, but return to the old values not expected”, — summarized in “Romira”.

let’s Add that the Russian economy in February—March 2020 was under the powerful impact of two negative factors — the rapid spread of the pandemic coronavirus infection COVID-19 and its deleterious effect on the global economy and collapse in oil prices. Against this background, the rouble significantly depreciated against the dollar and the Euro. Reacting to the situation, the government and the Bank of Russia adopted several packages of measures to support the economy and citizens.

may 11, Russian President Vladimir Putin announced the end of may 12, a single period of days off, entered March 30, in the fight against COVID-19. He also announced the beginning of implementation of the third package of anti-crisis measures, under which the state, in particular, will increase targeted support for families with children, small businesses, individual entrepreneurs and self-employed. In addition, Putin instructed the government to prepare a national plan for long-term development of the economy, the recovery in employment and incomes.

on 27 may, the Minister of economic development (MED) of the Russian Federation Maxim Reshetnikov said that the total cost of anti-crisis measures to support the Russian economy, aimed to fight the impact of the pandemic coronavirus has reached 3.3 trillion rubles.

on 2 June Prime Minister Mikhail Mishustin presented to the President a national plan for the recovery of the Russian economy in 2020-2021 years, noting in particular that the cost of the plan will be about 5 trillion rubles.

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