Cbank: Russians’ Jan real wage rise lowest since ’16 on inflation

MOSCOW, Mar 1 (PRIME) -- The annual growth of Russians’ real wages has slowed down to its lowest since mid-2016 in January due to rising inflation, while salaries of state employees reached the target of presidential decrees, the central bank said in a report on Friday.

“The annual growth rate of nominal wages continued to slow down (in January) and amounted to 5.2%, which is due to approach of the payments to workers of social sphere and culture to the target,” the central bank said.

“Together with acceleration of inflation, this factor affected the real wage dynamics, annual growth of which slowed down to 0.2%, the lowest since mid-2016,” the central bank said.

The labor market was close to balance in January, the central bank also said.

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