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.

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%).