MOSCOW, November 1 Real wages in Russia in August 2023 accelerated growth to 9.5% in annual terms from 9.2% in July, according to Rosstat data.
Real wages are the average accrued wages adjusted for inflation.
Compared to the previous month in August, real wages in Russia decreased by 3.2%. The growth rate in January-August was 7.5% in annual terms.
At the same time, the average monthly accrued wages of employees of organizations in August amounted to 69,439 rubles and increased by 15.1% compared to the corresponding period of the previous year; compared to July – a decrease of 2.9%. In January-August, wages in nominal terms increased by 13.2% in annual terms.
According to the forecast of the Ministry of Economic Development, wages in real terms in the Russian Federation will increase by 6.2% in 2023.
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