real wages in Russia grew by 10.4% in April – Kommersant
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Real wages in Russia increased by 10.4% in annual terms in April after rising by 2.7% in March. How informed Rosstat, it amounted to 71,204 rubles. Compared to April 2022, in nominal terms, it increased by 13%.
Real wages are average accrued wages adjusted for inflation.
The increase in the indicator is due to the effect of the low base of last year — in April 2022, real wages decreased by 7.2% due to a jump in inflation. In general, in January-April 2023, real wages increased by 4.2% in annual terms.
The Ministry of Economy expects real wage growth to be 5.4% in 2023, and 2.8% in 2024 and 2025. The agency believes that the growth of real wages will be affected by a slowdown in inflation, low unemployment and employers’ competition for labor.
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