Real wages in Russia increased 3 percent year-on-year in August of 2019, the same as in the previous month and in line with market expectations. Average nominal wages climbed 7.4 percent to RUB 45,100 while annual inflation was at 4.3 percent, its lowest since December 2018. Wage Growth in Russia averaged 5.66 percent from 1998 until 2019, reaching an all time high of 27.20 percent in December of 2001 and a record low of -41.40 percent in January of 1999.
Wage Growth in Russia is expected to be 2.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Wage Growth in Russia to stand at 2.50 in 12 months time. In the long-term, the Russia Real Wage Growth is projected to trend around 2.50 percent in 2020, according to our econometric models.