Rising inflation and rising gasoline prices: a blow to people’s pockets

In the summer of 2024, against the backdrop of sanctions, military spending and general instability, prices in Russia rose sharply - especially for gasoline, fuel, and essential goods. The rise in prices exceeded the expectations of many: for the month, inflation exceeded usual forecasts. Many families felt that salaries and pensions no longer covered basic expenses. People began to save money - giving up trips, vacations, expensive food, and shopping for later. It was especially difficult for those living in the regions - prices there grew faster, but incomes remained the same. Small businesses were under pressure: purchasing power decreased, demand fell, loans became more expensive. Some firms closed, others went into “survival mode.” August 2024 was the month when economic pain was not an abstraction, but a reality. For many Russians, this was a blow to the basic sense of stability - the very thing on which, in theory, any family relies.