Ukraine real wages accelerate to 14% yoy growth in May

Real wages in Ukraine grew 14.1% yoy in May,
accelerating from 12.5% yoy growth in April, the State Statistics Service
reported on June 27. The average monthly nominal wage increased to UAH 8,725 a
month (USD 333) from UAH 8,480 in May, which is 2.9% m/m growth in real terms.

The leading regions for average monthly wages remained
the city of Kyiv (UAH 13,286), the Ukrainian-controlled Donetsk region (UAH
10,166) and the Kyiv region (UAH 8,783).

The largest nominal average wage growth was in public
services (48% yoy), science and technology services (38% yoy), and
transportation (31%). Within the industrial sector, the highest nominal wages
remained in pharmaceuticals (UAH 15,426), mining (UAH 12,335), and metallurgy
(UAH 10,78.).

Evgeniya Akhtyrko: Cooling inflation has helped
to maintain a high growth rate of wages in real terms. We expect real wages to
increase 9-10% in 2018.