Real wages in Russia increased 1 percent year-on-year in June of 2020, recovering from a 2 percent drop in the previous month and against market expectations of a 3.5 percent fall. Nominal wages rose 4 percent to RUB 50,747 while annual inflation was up 3 percent.

Wage Growth in Russia averaged 5.59 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 August of 2020. source: Federal State Statistics Service

Wage Growth in Russia is expected to be -5.20 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 3.30 in 12 months time. In the long-term, the Russia Real Wage Growth is projected to trend around 5.20 percent in 2021 and 3.00 percent in 2022, according to our econometric models.

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Russia Real Wage Growth

Actual Previous Highest Lowest Dates Unit Frequency
1.00 -2.00 27.20 -41.40 1998 - 2020 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-04-27 01:00 PM Feb 5.7% 6.5% 5.5% 5.1%
2020-05-26 06:00 PM Mar 5.9% 5.7% -7% -6.4%
2020-06-19 04:00 PM Apr -2% 5.9% -8% -7%
2020-07-17 04:00 PM May 1% -2% -3.5% -3.2%
2020-08-20 01:00 PM Jun 1% -4.5%
2020-09-18 01:00 PM Jul
2020-10-20 01:00 PM Aug
2020-11-20 01:00 PM Sep -5.2%


News Stream
Russian Real Wages Unexpectedly Rise in May
Real wages in Russia increased 1 percent year-on-year in June of 2020, recovering from a 2 percent drop in the previous month and against market expectations of a 3.5 percent fall. Nominal wages rose 4 percent to RUB 50,747 while annual inflation was up 3 percent.
2020-07-17
Russian Real Wages Decline for 1st Time in 4 Years
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.
2020-06-19
Russia Real Wages Rise 6% in March
Real wages in Russia increased 5.9 percent year-on-year in March of 2020, following a 5.7 percent rise in the previous month and against market expectations of a 7 percent fall. Average nominal wages climbed 8.6 percent to RUB 50,926.
2020-05-26
Russia Real Wage Growth Beats Estimates
Real wages in Russia advanced 5.7 percent year-on-year in March of 2020, easing from a 6.5 percent rise in the previous month but slightly above market expectations of a 5.5 percent increase. Average nominal wages climbed 8.1 percent to RUB 47,257 while annual inflation was 2.5 percent.
2020-04-27

Russia Real Wage Growth
In Russia, Real Wage Growth measures the year-on-year change in average monthly wages adjusted for inflation.