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Is the cost of living in Russia really that low?

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  • Gluschenko, Konstantin

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.

Suggested Citation

  • Gluschenko, Konstantin, 2008. "Is the cost of living in Russia really that low?," MPRA Paper 13315, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:13315
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    File URL: https://mpra.ub.uni-muenchen.de/13315/1/MPRA_paper_13315.pdf
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    Keywords

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

    JEL classification:

    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
    • P22 - Economic Systems - - Socialist Systems and Transition Economies - - - Prices

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