Content №3 от 2022
Household Income and Consumption in the Regions in Pandemic Conditions
This article considers how household income, consumer demand, and savings form amid a crisis caused by the coronavirus pandemic and fall in prices for exports commodities. We analyze household income, consumer demand, and savings in the context of decile region groups, shaped according to the average income per capita and taking into account interregional price differentiation. We also assess the impact of social support measures as a factor of income stabilization. The article examines the way dynamics and structure of consumer spending depend on household income. Consumer spending is shown to decline even in the regions with an uprise in incomes. As parts of the consumer spending structure, the share of spending on goods increased while that on services decreased in every region. We remark a widespread growth in population savings: in rich regions, it mainly took a form of bank deposits, whereas regions with low incomes had cash money accumulated by the population. Household spending on real estate, including through home loans, went up. Despite fewer loans issued to the population in 2020, the credit burden on incomes grew. The changes in the structure of household expenditures can be viewed as a movement towards the household «survival model».
