How To Calculate The Cost Of Living For One Person

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How To Calculate The Cost Of Living For One Person
How To Calculate The Cost Of Living For One Person

Video: How To Calculate The Cost Of Living For One Person

Video: How To Calculate The Cost Of Living For One Person
Video: Chapter 24 Exercises 1-5. Measuring the Cost of Living. 2024, December
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You can calculate the subsistence minimum per person by reading the regulatory act of the Government of the Russian Federation, which sets the corresponding value on a quarterly basis. In this case, it is first necessary to establish the belonging of a particular person to a certain category of the population.

How to calculate the cost of living for one person
How to calculate the cost of living for one person

The subsistence minimum for one person is established by the Government of the Russian Federation on a quarterly basis. For this purpose, the named body issues a special decree, which reflects the minimum required amounts for various categories of the population. At the same time, the current legislation applies the subsistence minimum per capita, calculated on the basis of averaged data, as well as the subsistence minimum for specific categories of citizens whose needs differ. So, at present, the corresponding values for children, the working-age population and pensioners are separately established and published.

What is the minimum subsistence level?

The size of the subsistence minimum directly depends on the volume of the consumer basket, the goods and services included in it, necessary to provide an individual citizen of our country with everything necessary for one month. Currently, the subsistence minimum is established by the Decree of the Government of the Russian Federation of March 27, 2014 No. 233. In accordance with the specified document, for the working-age population, the value of this indicator is seven thousand eight hundred ninety-six rubles a month, for children - seven thousand twenty one rubles, for pensioners - six thousand twenty three rubles a month. At the same time, the average cost of living per capita according to the said act is seven thousand three hundred twenty-six rubles a month.

What is the cost of living for?

The size of the subsistence minimum is a statistical indicator that determines the pace of economic development, the standard of living of the population. The practical significance of this value lies in the need to provide state support to certain categories of the population whose income does not reach the corresponding indicators. So, it is up to the subsistence level that additional payments to pensions are made on the territory of the subjects of our country. In addition, the need for the appointment of social benefits is also determined depending on the level of material security. In this case, the income of an individual family is compared with the summed up living wage of all its members. If the first indicator is lower than the second, then the bodies of social protection of the population, in the presence of an appropriate appeal, assign social benefits, the purpose of which is to achieve the required level of material well-being.

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