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Is The Cost Of Living In Russia Really That Low?

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  • Konstantin Gluschenko

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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://www.wdi.umich.edu/files/Publications/WorkingPapers/wp949.pdf
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Bibliographic Info

Paper provided by William Davidson Institute at the University of Michigan in its series William Davidson Institute Working Papers Series with number wp949.

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Length: pages
Date of creation: 01 Dec 2008
Date of revision:
Handle: RePEc:wdi:papers:2009-949

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

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