For the week from October 26 to November 1, the drop in consumer spending on goods and services was a record one since the end of May 2020. Russian spending in the category of non-food products decreased by 5% year-on-year, in the service sector by 32%, economists from Sberbank note.
At the same time, the costs of food and medicine are growing. Over the past week, spending by Russian citizens on food products increased by 3,1%, while spending on medicines jumped by 34,3%.
The article Vesti.ru, which provides statistics from Sberbank, also notes that during the reporting week, the number of operating retail outlets in the category of non-food products decreased by 0,5% in Russia. At the end of October 2020, the demand for goods and services fell by 2,7%.