Majority of Russians Think Inflation Is Too High

Denis Abramov / Vedomosti

The majority of Russians think that current inflation levels are very high and are trying to cut back on spending by avoiding pricey purchases, according to a poll conducted by the state-run VTsIOM pollster, the Interfax news agency reported Thursday.

The number of Russians concerned about soaring prices has risen by 5 percent since December and now constitutes 70 percent of the population, according to the poll.

Only 23 percent of respondents called the rate of inflation moderate, while 4 percent considered it insignificant and 3 percent found it difficult to answer.

Almost two-thirds (64 percent) of Russians are refraining from big and expensive purchases while prices are so high, the poll revealed.

The majority of respondents (85 percent) think now is a bad time to take out bank loans.

The poll was conducted between Jan. 30-31 among 1,600 people in 130 towns across 46 Russian regions, Interfax reported.

See also:

Russians Spend More Than They Earn For First Time Since 1998

Russian Inflation Falls Below 10% for First Time in 14 Months

Inflation Is Most Worrying Problem for Russians – Poll

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