Russia’s real wages increased 2.8 percent from the previous year in May 2019, slowing from an upwardly revised 3.1 percent in the previous month but beating market expectations of a 1.5 percent rise. Average nominal wages advanced 8.1 percent to RUB 48,510. Wage Growth in Russia averaged 5.69 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 0.40 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 1.70 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.