NOVO-OGARYOVO, December 9. /TASS/. The economic situation in Russia is deteriorating, President Vladimir Putin said at a meeting on economic issues on Wednesday.

According to him, people’s incomes have fallen, the labor market is under pressure and essential food prices are growing.

"Unfortunately, people’s incomes declined this year. The labor market is facing pressure. The unemployment rate has grown," Putin pointed out. "However, what about other figures, including rising essential food prices?" he added, pointing to a problem.