real and especially nominal
Posted: Wed Apr 23, 2025 4:44 am
In August 1998, the default broke out, followed by the devaluation of the ruble (by 3-4 times), non-payments and a decline in production. Foreigners "folded up", and we began "import substitution". The space in consumer markets that was vacated by transnationals, frightened by the fall of the ruble to 15-24-28 per dollar,
incomes of the population (the average salary again fell below 100 dollars per month), began to be occupied by domestic producers of juice, beer, chocolates, women's underwear, etc. This idea lasted for 1.5-2 years. Consumers who bought buckwheat and pasta, salt and matches for a year in advance in the fall of 1998 at prices 4-5 times higher than "pre-crisis" prices demand only "acceptable" prices from suppliers.
And from the second half of 2000, the "rally" began. These events egypt cell phone number list are still fresh in the memory of even relatively young people, and there is no point in dwelling on them in detail here. Average wages, total incomes of the population, consumer spending, and the nominal volume of most consumer markets grew by 25-30% per year (in any currency) until the summer of 2008. Inflation gradually decreased from 20% in 2000 to 10% in 2007. The average wage during this period increased sevenfold and amounted to about 700 dollars. The average pension is almost 200 dollars. The volumes of large consumer markets, then their large segments, began to exceed a billion dollars per year. When spending on cat food approached a billion dollars a year, it became obvious to anyone with any understanding of economics and business that one of the world's ten largest consumer markets had recovered, with potential sales of a trillion dollars a year (most likely to be reached in 2014 or 2015).
incomes of the population (the average salary again fell below 100 dollars per month), began to be occupied by domestic producers of juice, beer, chocolates, women's underwear, etc. This idea lasted for 1.5-2 years. Consumers who bought buckwheat and pasta, salt and matches for a year in advance in the fall of 1998 at prices 4-5 times higher than "pre-crisis" prices demand only "acceptable" prices from suppliers.
And from the second half of 2000, the "rally" began. These events egypt cell phone number list are still fresh in the memory of even relatively young people, and there is no point in dwelling on them in detail here. Average wages, total incomes of the population, consumer spending, and the nominal volume of most consumer markets grew by 25-30% per year (in any currency) until the summer of 2008. Inflation gradually decreased from 20% in 2000 to 10% in 2007. The average wage during this period increased sevenfold and amounted to about 700 dollars. The average pension is almost 200 dollars. The volumes of large consumer markets, then their large segments, began to exceed a billion dollars per year. When spending on cat food approached a billion dollars a year, it became obvious to anyone with any understanding of economics and business that one of the world's ten largest consumer markets had recovered, with potential sales of a trillion dollars a year (most likely to be reached in 2014 or 2015).