Ukraine real wage growth slows to 13% yoy in June

Real wages in Ukraine grew 13.0% yoy in June,
decelerating from 14.1% yoy growth in May, the State Statistics Service
reported on July 27. The average monthly nominal wage increased to UAH 9,141 a
month (USD 349) from UAH 8,725 in May, which is 4.8% m/m growth in real terms.

The leading regions for average monthly wages remained
the city of Kyiv (UAH 13,533), the Ukrainian-controlled Donetsk region (UAH
9,774) and the Kyiv region (UAH 9,481).

The largest nominal average wage growth was in public
services (39% yoy), transportation (29%) and services (28%). Within the industrial
sector, the highest nominal wages were in pharmaceuticals (UAH 17,158), mining
(UAH 12,398), and in coke and oil production (UAH 11,499).

Evgeniya Akhtyrko: Cooling 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.