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Medvedev adopts rules for living wage calculations

The document suggests a mechanism of correcting prices for non-food products and services

Photo ITAR-TASS

Photo ITAR-TASS

MOSCOW, February 3 (Itar-Tass) – Russia’s Prime Minister Dmitry Medvedev adopted rules to calculate the living wage per capita and depending on major demography groups in the Russian Federation.

The document instructs calculation of the food cost in consumer baskets on the basis of a minimal set for major social and demography groups as per the federal law on the consumer basket and depending on the data from Rosstat /Russia’s statistics service/ on the level of food prices.

Non-food products and services’ prices are calculated from their ratio to cost of food as per the federal law.

The document suggests a mechanism of correcting prices for non-food products and services, which will reflect a ratio of indexes for consumer prices for non-food products and services and the index of consumer prices for food. The new order of using adjusting multipliers will be used to reflect the real changes of prices for non-food products and services included in the consumer basket.

The new rules allow Russia’s all territories to calculate the living wage based on a single methods basis.

The text of the order is uploaded to the government’s site on the Internet.

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