Ukraine real wages rise 9.5% yoy in January

Real wages in Ukraine grew 9.5% yoy in January,
slightly slowing from a 9.7% yoy December advance, the State Statistics Service
reported on Feb. 28. The average monthly nominal wage amounted to UAH 9,223 a
month (USD 331), dropping from UAH 10,537 in December, or 13.6% m/m in real terms.

The leading regions for average monthly wages remained
the city of Kyiv (UAH 13,721), the Ukrainian-controlled Donetsk region (UAH
10,045) and the Kyiv region (UAH 9,772).

The largest nominal average wage growth was in
information and communication services (25% yoy), the industrial sector (25%
yoy) and construction (24% yoy). Within the industrial sector, the highest
nominal wages were in pharmaceuticals (UAH 17,663), mining (UAH 13,883), and
coke and oil production (UAH 12,602).

Evgeniya Akhtyrko: The drop in average monthly nominal wages after a December surge was caused by traditional bonus payments at the
year end. Meanwhile, the year-on-year growth of real wages was almost
unchanged. We expect real wages to climb 9-10% yoy in 2019.