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Real wages in Russia grow by 2.7% in March - Rosstat

The average monthly accrued wages of employees in March 2023 amounted to 71,334 rubles

MOSCOW, May 31. /TASS/. Real wages in Russia in March 2023 increased by 2.7% in annual terms and rose by 9.1% compared to February 2023, according to the Russian State Statistics Service (Rosstat).

The average monthly accrued wages of employees in March 2023 amounted to 71,334 rubles (+6.3% in annual terms). In the Q1 of 2023, nominal wages increased by 10.7% compared to the same period in 2022.

In April, Russia’s Minister of Economic Development Maxim Reshetnikov said that the growth of real wages of the Russian population in 2023 would be more than 5%.

Rosstat reported earlier that weekly inflation in Russia from May 23 to May 29, 2023, reached 0.08%. At the same time, from May 16 to May 22, inflation in Russia was at the level of 0.04%. Since the beginning of May, consumer prices in the country have increased by 0.21%, since the beginning of the year - by 2.27%. In annual terms, inflation in Russia as of May 29, 2023, amounted to 2.37%.

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