Real incomes of Russians increased by 3.9% over the year

Real, that is, adjusted for inflation, cash income in the first half of this year compared to the same period last year increased by 3.9%. This follows from the Rosstat report on the socio-economic situation in Russia for January-June. Real disposable income – adjusted for taxes – increased by 4.7%.

From January to June 2023, the total income of the population amounted to 39.3 trillion rubles, and expenses – 37.6 trillion rubles. As a result, the growth of savings of Russians in the first half of the year was fixed at around 1.8 trillion rubles.

In the second quarter of 2023, the share of income from entrepreneurial activities decreased compared to the previous quarter – from 7.3% to 6.6%. Wage also showed negative dynamics – from 64.9% to 58.5%. The percentage of social payments, on the contrary, increased from 18.6% to 19.4%.

In the structure of income use, the largest share is taken by the purchase of goods and services (82.3%), another 13.2% is taken by mandatory payments and contributions. In the first half of last year, the ratio was 83% and 14.1%, respectively. The recorded increase in savings is 4.5%, while in January-June 2022 the figure was 2.9%.

In July, the Russians kept 60.2 trillion rubles. – 73.1% savings in deposits and 26.9% in cash. There are 39.8 trillion rubles in ruble accounts, 11 trillion rubles outside the banking system. Compared to June, the indicators changed slightly, at that time the total amount of savings amounted to 58.9 trillion rubles. of which 72.6% were kept in deposits and 27.4% in cash.

The purchasing power of per capita income in the first half of this year, compared to the same period last year, increased for almost all basic food products, except for margarine and onions. Potatoes and cabbage showed the highest growth rates. Among the services, the availability of electricity, hot and cold water has decreased, while the ability to pay for travel in a city bus has increased.

The average monthly accrued salary (excluding inflation and taxes) in May 2023 amounted to 72,851 rubles. and increased by 16.1% compared to the corresponding period of the previous year. Growth by April was recorded at the level of 2.4%. Traditionally, the highest wages are paid to employees working in the areas of pipeline transport (263,109 rubles) and oil and natural gas production (193,529 rubles). The least paid are postal workers and couriers (38,346 rubles), as well as textile production (43 420 rubles)

Unemployment in June again updated its record and amounted to 3.1% – this is the lowest figure on record.

In June 2023, the average amount of granted pensions amounted to 19,469 rubles and increased by 5.9% compared to June 2022. In terms of half a year, the payment is fixed in the amount of 19,398 rubles. — the amount is 7.1% more than in January-June 2022.