OREANDA-NEWS In Russia, in July 2024, the growth in the real size (adjusted for inflation) of wages amounted to 8.1% year-on-year, after an increase of 6.2% in June, 8.8% in May, 8.5% in April, 12.9% in March, 10.8% in February and also 8.5% in January, Rosstat reported.

In seven months, the national average real salary increased by 9.2% compared to the same period in 2023.

The average monthly salary in nominal terms in July amounted to 85,017 rubles, which is 18% more than in July 2023.

According to the updated macro forecast of the Ministry of Economic Development presented in September, the growth of real wages in the country in 2024 is projected at 9.2% (6.5% in April estimates), in 2025 - 7.0% (3.6%), in 2026 - 5.7% (2.8%), in 2027 - 4.1% (2.5%).

In 2023, the real size of the average wage increased by 7.8% after an increase of 0.3% in 2022.