Russia's real wages increased by 0.7 percent year-on-year in February of 2019, following an upwardly revised 1.1 percent advance in the previous month and compared with market expectations of a flat reading. It was the lowest annual gain in wages since October of 2016. Average nominal wages jumped 6 percent to RUB 43,030 while annual inflation rate rose to 5.2 percent, the highest level since December of 2016. Wage Growth in Russia averaged 5.72 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 0.50 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 1.50 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.