Acceleration of inflation, the level of which will amount to 2015% in 13, will cause a new decline in retail sales, analysts at the Center for Development Institute of the Higher School of Economics believe. The reason for the recession will be a cumulative increase in prices for goods with a simultaneous drop in household incomes.
The HSE study also includes a general description of industrial production in Russia in the current year. According to data from May to October 2015 (excluding seasonal fluctuations), textile and clothing production this year decreased by 9,6%, while the production of leather, leather goods and footwear - by 10,9%. The state of both spheres is assessed as “a strong fall”.
At the same time, according to Rosstat, a decrease in retail sales in the Russian Federation continues to break records. In November, the rate of decline reached 13,1%, against 11,7% in October and 10,4% in September. Over the 11 months of this year, retail sales decreased by 9,3% (compared with the same period of the previous year) and reached 24 trillion 710,7 billion rubles. A recent study by Romir confirms forecasts of a decline in purchasing power of citizens - about 41% of Russians decided to save on New Year's gifts on holidays.