Sberbank recorded record growth in Russian spending in February

Compared to a year ago, Russians’ spending in February increased by 2.6%. At the same time, Russians spend less on airline tickets and transportation, as well as on cafes and restaurants.

Photo: Kirill Kalinikov / RIA Novosti

For the week from February 22 to February 28, consumer spending for Russians increased 2.3% compared to the same period last year, following data on the Consumer Spending Dynamics Assessment by SberIndex (RBC has it).

Spending on non-food products increased by 4.6%, on services – by 8.2%, and spending increased more than anything in the following sectors:

• Computer hardware and software – 43.8%;
• Telecommunications equipment and services – 37.1%;
• Home appliances and electronics – by 33.3%.

For the entire month of February, the increase was 2.6%, the highest number since the start of the pandemic, the report follows. Expenditure on food in February increased by 5.4% compared to last year, on non-food products – by 8.7%. Spending on telecom equipment and services increased by 33.4%.

Meanwhile, in February, air ticket expenditures (-71.3%), road tolls (-30.1%) and domestic transportation (-25%) decreased. Café and Restaurant countries decreased (-21.6%) and books and music (-16.1%).