OREANDA-NEWS The growth in the real size (adjusted for inflation) of wages in the Russian Federation in March 2024 amounted to 12.9% after an increase of 10.8% in February and 8.5% in January, Rosstat reported on Wednesday.

The average monthly salary in the Russian Federation in nominal terms in March 2024 amounted to 87 thousand 740 rubles, an increase of 21.6% compared to March 2023.

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

In April, the Ministry of Economic Development of the Russian Federation raised the forecast for the growth of average real wages in the Russian Federation in 2024 to 6.5% (from 2.5% in the September version of the forecast), in 2025 to 3.6% (from 2.6%), in 2026 to 2.8% (from 2.3%).