Real wages in Russia tumbled 2 percent year-on-year in May of 2020, after increasing 5.9 percent in the previous month and compared to market expectations of an 8% drop. It was the first decline in wages since July of 2016, as average nominal wages rose 1 percent to RUB 49,306 while annual inflation was 3 percent.
Wage Growth in Russia averaged 5.61 percent from 1998 until 2020, 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. This page provides - Russia Wage Growth- actual values, historical data, forecast, chart, statistics, economic calendar and news. Russia Real Wage Growth - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Federal State Statistics Service
Wage Growth in Russia is expected to be 2.50 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 3.00 in 12 months time. In the long-term, the Russia Real Wage Growth is projected to trend around 2.50 percent in 2021, according to our econometric models.