Ukraine real wage growth accelerates to 14% in October

Real wages in Ukraine grew 14.2% yoy in October,
accelerating from 12.9% yoy growth in September, the State Statistics Service
reported on Nov. 28. The average monthly nominal wage rose to UAH 9,218 a month
(USD 328) from UAH 9,042 in September, growing 0.2% m/m in real terms.

The leading regions for average monthly wages remained
the city of Kyiv (UAH 13,850), the Ukrainian-controlled Donetsk region (UAH
9,850) and the Kyiv region (UAH 9,132).

The largest nominal average wage growth was in
administration services (31% yoy), agriculture (30% yoy) and construction (29%
yoy). Within the industrial sector, the highest nominal wages were in
pharmaceuticals (UAH 16,294), mining (UAH 13,226), and in coke and oil
production (UAH 12,408).

Evgeniya Akhtyrko: Wages are maintaining their high growth rate despite reinforced consumer inflation in
September-October. We
expect real wages to climb 12-13% yoy in 2018.