Page 39 - RUSRptOct18

4.5.2 Income dynamics
Real incomes of Russians in August decreased for the first time since early 2018 , falling by 0.7% in August m/m compared to July, Rosstat reported on September 20.
The decrease in real incomes occurred in annual terms: in August it was 0.9% by August 2017, after an increase of 2.3% in July, 0.7% in June, 0.3% in May, 5, 8% in April, 4.6% in March and 4.2% in February.
In nominal terms, household incomes rose by 2.7% y/y in August to RUB31,818 ($479), but decreased by 1.8% by July 2018, according to Rosstat's operational information.
In January 2018, incomes of Russians in real terms decreased by 6.8% due to a lump sum one time payment of RUB5,000 to pensioners in January 2017, the year before, distorting the base.
If this effect is not taken into account, income in January 2018 in real terms increased by 0.1% compared to January 2017. Thus, real income growth was began at the start of 2018 after falling for most of 2017.
39 RUSSIA Country Report October 2018 www.intellinews.com