Autumn recession: sharp rise in prices, inflation and a blow to the wallets of Russians

During 2024, Russia faced a new wave of economic instability: against the backdrop of sanctions, military spending, and logistics problems, prices for fuel, basic products, and essential goods rose sharply. Particularly noticeable was the jump in prices for gasoline, energy and utilities - which hit regions far from Moscow hard. Many families, especially those with low incomes, felt that their usual way of life had become unattainable: they began to plan purchases strictly, refuse “extras,” and save on food, entertainment, even on medicine. Small and medium-sized businesses dependent on domestic demand have reduced their turnover - people began to consume less, which further reduced the income of shops, cafes, and services. The situation was especially difficult in the regions: where incomes were below average, where the social infrastructure was already weak. Inflation, rising prices and instability of the ruble undermined confidence in the official “sustainability” of the economy. 2024 was the year when “economic everyday life” came under pressure: a stable piece of bread, a trip to relatives, treatment, repairs - everything became a matter that required effort. For many Russians, this became a test: prices were rising, but opportunities were not.