Real wages in Russia rose 2.3 percent year-on-year in July of 2020, accelerating from a 0.6 percent increase in the previous month and beating market forecasts of a 0.1 percent gain. Average nominal wages climbed 5.7 percent to RUB 49,844 while annual inflation was 3.4 percent.
Wage Growth in Russia averaged 5.56 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 September of 2020. source: Federal State Statistics Service
Wage Growth in Russia is expected to be 0.50 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 1.60 in 12 months time. In the long-term, the Russia Real Wage Growth is projected to trend around 2.00 percent in 2021 and 2.20 percent in 2022, according to our econometric models.