Ukraine real wage growth accelerates to 14.7% yoy in July

Real wages in Ukraine grew 14.7% yoy in July,
accelerating from 13.0% yoy growth in June, the State Statistics Service
reported on Aug 28. The average monthly nominal wage increased to UAH 9,170 a
month (USD 347) from UAH 9,141 in July, which is 1.0% m/m growth in real terms.

The leading regions for average monthly wages remained
the city of Kyiv (UAH 13,836), the Ukrainian-controlled Donetsk region (UAH
9,764) and the Kyiv region (UAH 9,410).

The largest nominal average wage growth was in real
estate services (45% yoy), public services and defense (42%) and administrative
personnel (32%). Within the industrial sector, the highest nominal wages were
in pharmaceuticals (UAH 16,844), mining (UAH 12,868), and in coke and oil
production (UAH 11,336).

Evgeniya Akhtyrko: Slowing inflation and a continuing economic upsurge are fueling the relatively high growth rate of
real wages. We expect real wages to increase 9-10% yoy in 2018.