The Russian economy (catch all)

[Firn]

There is certainly a torrent of bad news coming in for the Russian economy. As for many financial and economic data can seem steril and cold to many I think it is useful to look at it sometimes from more individual level:

Living Standards Slide for Russia's Struggling Pensioners

"In the 1990s there was nothing in the shops but fridges were full," Lisitsyn said, referring to the collapse of the Soviet Union which shattered supply lines and the command economy, forcing many to rely on home-grown produce.

"Now it's the other way round — there's everything in the shops but fridges are all but empty," said the former military officer and radio factory worker.

Sitting at a small formica table in the kitchen of his two-room flat in a Moscow suburb, Lisitsyn said he struggles to keep up with price rises for food and medicine, saying sometimes he walks into a shop "only to walk out again."

According to the article the average monthly pension in 2014 was around 10.000 rubles or 150$ at the current exchange rate which is of course amazingly little by Western standards. In general high inflation in basic stuff like food impact mostly the poor and in this case old, although the high rural proportion might reduce that connection in Russia to some degree. But living in the many little villages in very basic housing comes of course also at a price. The pensioners rappresent somewhat under a third of the Russian population.

It's a trend not lost on Putin, whose role as a protector of stability, social conservatism and generous state spending has won a strong following among the elderly. Their loyalty is now being tested by a financial crisis triggered by low oil prices and Western sanctions imposed on Russia over Ukraine.

I focused more on food prices and hadn't thought so much about medicine, which is mostly imported.