Wages and labour costs · Russia
Russia Real Wage Growth YoY
The Russia Real Wage Growth YoY measures how fast pay, or the total cost of employing people, is rising in Russia.
- חשיבות
- Low
- פורסם
- Monthly
- הפרסום הבא
- מטבע
- RUB · Russian rouble
- בנק מרכזי
- The Bank of Russia
הנתונים האחרונים
הפרסום האחרון, עבור AUG, יצא ב-2026-10-28 ועמד על 3.3%. זה מעל הקונצנזוס של 3%. ללא שינוי לעומת 3.3% בפעם הקודמת.
A higher figure than expected makes the Bank of Russia more likely to keep rates high or raise them: it tends to support the Russian rouble and push bond yields up, and is often a weight on stocks.
ב-12 הפרסומים האחרונים הערך נע בין 2.4% ל-8.6%, בממוצע 5.3%.
| פורסם | עבור | בפועל | קונצנזוס | קודם |
|---|---|---|---|---|
| 28 Oct 2026 | AUG | 3.3% | 3% | 3.3% |
| 30 Sep 2026 | JUL | 3.3% | 2.4% | 3.4% |
| 2 Sep 2026 | JUN | 3.4% | – | 4.5% |
| 29 Jul 2026 | MAY | 4.5% | – | 5.1% |
| 1 Jul 2026 | APR | 5.1% | – | 8.1% |
| 3 Jun 2026 | MAR | 8.1% | 7.1% | 8.6% |
| 29 Apr 2026 | FEB | 8.6% | – | 8.6% |
| 1 Apr 2026 | JAN | 8.6% | – | 2.4% |
| 4 Mar 2026 | DEC | 2.4% | 4.4% | 5.8% |
| 6 Feb 2026 | NOV | 5.8% | 6.1% | 6.1% |
| 26 Dec 2025 | OCT | 6.1% | 3.3% | 4.7% |
| 3 Dec 2025 | SEP | 4.7% | 3.5% | 3.8% |
למה זה חשוב
Wages are the largest cost for service businesses, so wage growth well above productivity growth turns into lasting inflation. Central banks watch it to judge whether inflation will return to target; strong wage growth tends to keep the Bank of Russia hawkish.
איך זה מחושב
Pay data come from employer surveys, tax records or collective agreements; the release usually shows the change from a year earlier. Labour cost indexes include employers' social contributions and benefits.
Wage growth (yoy) = average pay ÷ average pay a year ago − 1
Real wage growth ≈ wage growth − inflationמה המשמעות של שינויים
- Wage growth of about 3–3.5% is roughly consistent with 2% inflation when productivity grows about 1%.
- Compositional effects (low-paid workers losing jobs) can lift the average misleadingly.
גבוה מהצפוי: A higher figure than expected makes the Bank of Russia more likely to keep rates high or raise them: it tends to support the Russian rouble and push bond yields up, and is often a weight on stocks.
נמוך מהצפוי: A lower figure than expected gives the Bank of Russia room to cut or hold rates lower: the Russian rouble tends to soften and bond yields to fall.
היסטוריה קצרה
The link between wages and inflation was described by A. W. Phillips in 1958 (the Phillips curve); it has weakened and strengthened over the decades but remains central to central-bank thinking.
שאלות
What is the Russia Real Wage Growth YoY?
The Russia Real Wage Growth YoY measures how fast pay, or the total cost of employing people, is rising in Russia.
What was the latest Russia Real Wage Growth YoY?
3.3% for AUG, published on 28 October 2026 (consensus 3%, previous 3.3%).
When is the next Russia Real Wage Growth YoY?
On Wednesday 2 December 2026 at 16:00 UTC.
תוכן לימודי בלבד, לא ייעוץ השקעות. הנתונים הם התוצאות שפורסמו כפי שנרשמו ביומן שלנו; תגובות השוק המתוארות אופייניות, לא מובטחות.