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Is the cost of living in Russia really that low?

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Author Info
Gluschenko, Konstantin

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Abstract

There is a widespread opinion that goods, especially foods, and services in Russia are very cheap as compared to the US. A number of Russian statistical indicators characterizing the cost of living, either directly or indirectly, seemingly corroborate this opinion. This paper demonstrates that these indicators are biased, sufficiently understating the cost of living in Russia. A comparison of Russian actual prices for foods with those in the US evidences that they are comparable. Moreover, the Russian prices are tending to catch up with the US prices.

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File URL: http://mpra.ub.uni-muenchen.de/13315/
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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 13315.

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Date of creation: Dec 2008
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Handle: RePEc:pra:mprapa:13315

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Related research
Keywords: food prices; cost of living; minimum wage; subsistence level; Russia; US;

Find related papers by JEL classification:
I31 - Health, Education, and Welfare - - Welfare and Poverty - - - General Welfare
O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
P22 - Economic Systems - - Socialist Systems and Transition Economies - - - Prices

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This page was last updated on 2009-11-29.

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