Russian Consumers Unruffled By Inflation, Markets Crisis

Russian Consumers Unruffled By Inflation, Markets Crisis

According to Nielsen, Russian consumers are among the most confident worldwide — despite the country’s high rate of inflation and an ongoing stock market crisis, The Guardian reported this week.

Consumer prices in Russia have risen by 10% so far this year, but Nielsen researchers found that most Russians are confident about the country’s job market and their personal finances. 

Of the 1,000 people in Russia surveyed by Nielsen, two-thirds said they were confident they could overcome any hardship in the second half of 2008.  Another 58% of respondents reported having good career opportunities, and 40% said they were confident about their purchasing power.

“Despite a difficult situation with prices, consumption volumes in Russia are not falling,” Ilona Lepp, Client Service Director, Nielsen Russia, told The Guardian.  “People are not ready to renounce their habits in favor of saving.”