Russia’s Ruble Failing, Consumers Cutting Back on Basic Goods

• The value of the Russian ruble continues to fail, forcing Russians to cut back their spending.
• A recent survey found that more Russians are reducing their buying of basic goods like food. 
• Earlier this month, the Russian ruble plunged to a 16-month low against the US dollar. 

The value of the ruble has taken a nosedive, forcing Russians to cut back on buying essential commodities like groceries, toothpaste, and soap because of the skyrocketing prices. 

According to an August 16 survey