Real disposable income of Russians in the first quarter fell by 3.6%

The real disposable income of Russians (excluding mandatory payments (taxes and fees, interest on loans, and so on) and adjusted for inflation) decreased by 3.6% in the first quarter of 2021 compared to the same period last year and by 26.7% compared to the fourth quarter of 2020, according to Rosstat data.

At the same time, Rosstat revised the dynamics of the decline in real disposable income for 2020 from 3.5% to 3%. Thus, in the first quarter of 2020, real disposable incomes of citizens increased by 1.3% (the previous estimate was 1%), in the second quarter - fell by 7.5% (7.9%), in the third quarter - by 5% (5.3%), in the fourth quarter - by 0.9% (1.7%).

It is indicated that the data for 2020 has been updated in comparison with previously published data due to the adjustment of data on retail trade and public catering turnover, as well as the adjustment by the Bank of Russia of certain indicators of banking statistics.

Real cash income, according to Rosstat, in the first quarter of 2021, compared to the same period of the previous year, decreased by 2.8% and by 26% compared to the previous quarter. Cash income per capita on average amounted to 32,612 thousand rubles in the first quarter, which is 3% more than in the first quarter of 2020.

Rosstat notes that in the structure of cash income of the population in the first quarter of 2021, compared to the same period last year, the share of wages increased, while the share of income from business activities, social benefits and other cash receipts decreased. At the same time, the share of income from property remained at the level of the first quarter of 2020.

According to the April forecast of the Ministry of Economic Development, the real disposable income of the population will grow by 3% in 2021.

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