INSUBCONTINENT EXCLUSIVE:
Real wages in Russia grew by a solid 6.5% year-on-year in January, according to preliminary Rosstat data, just as the economy begins to cool
and inflation starts to decline.Rosstat reported that the average monthly nominal wage was 88,981 rubles ($1,056), marking a 17.1% rise in
The real wage growth of 6.5% means the purchasing power of Russian workers has improved after accounting for inflation, albeit at a more
But the ministry noted that the overall dynamics of key macroeconomic indicators in February were largely influenced by the calendar factor,
as February 2025 had one day fewer than February 2024.However, the latest PMI manufacturing and services results also show a sharp slowdown
appears to be working.The S-P Global PMI panelists also reported that inflation pressures are easing due to the cooling business
environment.Given the shortage of labor, companies are unlikely to fire workers and if inflation falls that will offset any slowdown to some
degree by boosting the value of real wages
the latest FOM survey found that the public's expectations for inflation are starting to fall.Annual inflation in Russia accelerated to
10.24% in March, according to the Economic Development Ministry.Prices changed by 0.05% in the non-food segment but prices continued going
down for electric and domestic appliances
