Real income of Russians dropped by almost 8% in April

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According to the data published by the Federal Statistics Service (Rosstat), the real disposable income of Russians in April 2017 decreased by 7.6% in annual terms after a 2.5% decrease in March this year.

For the first 4 months of this year this indicator fell by 2.2% in annual equivalent.

Real disposable income is the income minus mandatory payments, adjusted for the consumer price index.

As Rosstat states, an average monthly wages of employees of organizations amounted to 39,253 rubles (approx. $690 – RRT) in April 2017, and grew by 6.7% year on year.

At the same time, real wages (considering the inflation) increased in April by 2.5% in annual terms.

The real disposable income of the Russians is declining for the fourth consecutive year. It fell by 5.9% in 2016, by 3.2% in 2015, and by 0.7% in 2014.

Source: Rosbalt