The number of Russians living below the poverty line rose by 3.1 million in the first quarter as the economy reeled from the plunging ruble and soaring inflation, state statistics revealed Thursday.
The number of Russians classed as living in poverty hit 22.9 million in the first quarter, or 15.9 percent of the population.
In the same period last year 19.8 million Russians were living under the poverty line. This is defined as having an income of less than 9,662 rubles per month ($176).
The statistics agency adjusted the income level defined as poverty from last year to reflect inflation of up to 17 percent early this year.
Last year, the poverty line was set at 7,688 rubles.
The ruble lost over 40 percent of its value in 2014.
Prices for goods have been affected by the ruble's plunge as well as by falling oil prices and the Ukraine crisis. Russia imposed a ban on most imports of foods from Western countries that imposed sanctions over Ukraine, pushing up prices in shops for consumers.
The government has taken some measures to protect the poorest, including indexing pensions to inflation.
Russians have seen their spending power diminish drastically as prices of basic goods have soared.
According to statistics published earlier, the price rises led to a fall in real income of 9.3 percent year-on-year in March, while consumption was down 8.7 percent.
Inflation has slowed in the last two months, with the authorities expressing hopes for a return to economic growth next year.
The number of Russians living below the poverty line rose by 3.1 million in the first quarter as the economy reeled from the plunging ruble and soaring inflation, state statistics revealed Thursday.
The number of Russians classed as living in poverty hit 22.9 million in the first quarter, or 15.9 percent of the population.
In the same period last year 19.8 million Russians were living under the poverty line. This is defined as having an income of less than 9,662 rubles per month ($176).
The statistics agency adjusted the income level defined as poverty from last year to reflect inflation of up to 17 percent early this year.
Last year, the poverty line was set at 7,688 rubles.
The ruble lost over 40 percent of its value in 2014.
Prices for goods have been affected by the ruble’s plunge as well as by falling oil prices and the Ukraine crisis. Russia imposed a ban on most imports of foods from Western countries that imposed sanctions over Ukraine, pushing up prices in shops for consumers.
The government has taken some measures to protect the poorest, including indexing pensions to inflation.
Russians have seen their spending power diminish drastically as prices of basic goods have soared.
According to statistics published earlier, the price rises led to a fall in real income of 9.3 percent year-on-year in March, while consumption was down 8.7 percent.
Inflation has slowed in the last two months, with the authorities expressing hopes for a return to economic growth next year.
