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Real Wages Of Russians Decreased by 19.2 Percent
August 20, 2017 17:20


 Real wages of Russians have decreased by 19.2 percent from October 2014 to May 2017. The welfare of citizens has been declining for 31 months.

Such data are contained in the report of the Higher School of Economics titled “Population of Russia in 2017: incomes, expenses and social welfare”. At the same time, the real size of pensions has falllen by 6.9 percent from October 2014 to April 2017. “The increase in consumer prices has made up 25.7 percent since the beginning of the period of economic instability – from November 2014 - to the end of May 2017” - the HSE experts say.

At the same time, food products have grown more expensive by 28.5 percent, non-food products - by 26.2 percent, services - by 21.3 percent. On July 31, RANEPA reported that the most common strategy for improving the financial situation for the population of Russia in 2017 was the manufacture of products at private farms. This involved 32 percent of respondents.

“Thus, the behavior of citizens showed predominantly archaic forms of improving their financial situation, they are still prevalent beginning from the crisis of “survival” in 1990s, people do not use active innovative practices” - the report said.


Author: Anna Dorozhkina


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