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in different regions of the Russian Federation. In the fourth quarter of 2021, this indicator in the regions of the Russian Federation varied from 1.6% to 28.4%.
4.5.2 Income dynamics
Russians’ real wages rose 0.6% on year in January. Real wages in Russia went up by 0.6% year-on-year in January 2023, above market expectations of a 0.6% growth. It follows a 0.6% rise in December, marking the fourth consecutive month of mild increases in wages. Meanwhile, average nominal wages rose 12.4% from a year earlier to RUB63,260 roubles. source: Federal State Statistics Service
Wages in Russia averaged RUB18,388.94 RUB/Month from 1990 until 2023, reaching an all time high of RUB88,468.00 RUB/Month in December of 2022 and a record low of RUB0.00 RUB/Month in February of 1990.
From April 1, social pensions will be indexed by 3.3%, the press service of the Ministry of Labour said on February 28. “Social pensions are proposed to be increased by another 3.3% from April 1 in addition to the 10% indexation carried out in June,” the report says. The department added that the draft was submitted for public discussion. About RUB15.57bn rubles will be allocated from the federal budget to implement the initiative. Since January 1, the cost of living (PM) has increased by 3.3% to 14,375 rubles, reminded the Ministry of
81 RUSSIA Country Report Russia April 2023 www.intellinews.com