The real incomes of Russians declined in May at a record pace for five years – RBC

In May 2015, real disposable income of Russians (incomes less compulsory payments adjusted for inflation) declined at an annualized rate of 6.4%, according to the Federal State Statistics Service’s report on the socio-economic situation in the country. Thus, the real incomes of Russians declining the seventh consecutive month: the last time they grew at an annual rate was recorded in October 2014.

Moreover, since the beginning of 2015 the decline in real incomes of Russians almost every month is accelerating: in January 2015, according to revised data from Rosstat, they declined at an annualized rate of 0.7% in February and March – by 1.6%, in April – by 3.9%. Overall, the first five months of 2015 incomes decreased by 3%, while for the whole 2014 – by 0,7%.

As fast as in May 2015, the real incomes of Russians do not fall For more than five years. The last time they were reduced faster in August 2009: while the average Russian income decreased year on year to just 9,2%.

The nominal monetary income of the average Russian in May 2015 decreased compared to the previous month by almost 10%, reaching only 27.65 thousand. rub. against 30.57 thousand. rub. Average of Russia on nominal wage in May 2015, according to the Federal State Statistics Service, was 34.4 thousand. Rub., Which is 7.3% more than it was in May 2014 and 0.1% more than in April 2015.

However, the real monthly wage, ie the purchasing power of money received by workers, due to the change in prices for consumer goods and services dropped in May 2015 at an annual rate of 7.3%. In January-May 2015 the real wages of Russians decreased by 8,8%.

On the eve of anxiety reduction rate of real wages of Russians expressed the Deputy Minister of Labor and Social Protection of the Russian Federation Love Eltcova. According to her, only to have to return the size of the real wages of the average Russian on the level of last year, will take about three years.

According to the Russian Ministry of Economic Development, in 2015, real wages could be reduced by 9.8% the previous year. Restoring reached in 2014 the level of real wages is forecasted in 2018, “- said Eltcova the organized round table in the State Duma.

According to Rosstat, the annual inflation rate by the end of May 2015 was 15.8%, the products also rose in the same year just 20.2%. Since the beginning of 2015 prices in Russia grew on average by 8.3%, food prices – by 11,3%.

Only in May, prices in Russia grew by an average of 0.4% in the including food – by 0.1%. In the Crimea, prices in May rose 1.4%, and Sebastopol – by 1.3%. The cost of the minimum monthly food basket in Russia on average increased by the end of May 2015 to 3824.3 rubles. The greatest cost of the minimum food basket for the results of April was recorded in Chukotka (8349 rub.), The smallest – in the Kursk region (3082 rub.).