Ukraine real wages accelerate to 14% yoy growth in May

2018/7/4 16:55:07

Analyst: “We expect real wages to increase 9-10% in 2018.”

KYIV, July 4, 2018 - Real wages in Ukraine grew 14.1% yoy in May, accelerating from 12.5% yoy growth in April, Concorde Capital informed its clients earlier this week based on a State Statistics Service report on June 27. The average monthly nominal wage increased to UAH 8,725 a month (USD 333) from UAH 8,480 in May, which is 2.9% m/m growth in real terms.


The leading regions for average monthly wages remained the city of Kyiv (UAH 13,286), Ukrainian-controlled Donetsk region (UAH 10,166) and the Kyiv region (UAH 8,783).


The largest nominal average wage growth was in public services (48% yoy), science and technology services (38% yoy), and transportation (31%). Within the industrial sector, the highest nominal wages remained in pharmaceuticals (UAH 15,426), mining (UAH 12,335), and metallurgy (UAH 10,78.).


Concorde analyst Evgeniya Akhtyrko added: “Cooling inflation has helped to maintain a high growth rate of wages in real terms. We expect real wages to increase 9-10% in 2018.”




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