Inflation in Ukraine ahead of real wage growth

Nominal and real wages in Ukraine are growing. This was announced by the Chairman of the State statistics of Ukraine Igor Werner, the press service of the Cabinet of Ministers.

In General, nominal wages last year grew by 23.5%, real – by 11.6%. So, in December of last year, the nominal salary in Ukraine amounted to UAH 6475 in December 2015 – 5230 UAH.

At the same time, inflation by the end of 2016 is 12.4%. Thus, real wages grew less than prices.

Werner also announced the reduction of wage arrears. On January 1, 2017 1791 it amounted to million. The highest debt recorded in Kharkov, Donetsk and Lugansk regions, where it exceeds UAH 150 million. Generally in most areas of amount of debt does not exceed UAH 50 million.

Recall that consumer inflation has slowed sharply in 2016 to 12.4% (from 43.3% in 2015), in line with forecasts of the National Bank. Thus, the national Bank reached its inflation target defined by the monetary policy Strategy for 2016-2020. As you know, by the end of 2017 NBU origet of 9.1% inflation.