Ukraine real wage growth slows to 13% yoy in September

Real wages in Ukraine grew 12.9% yoy in September,
slowing  from 15.7% yoy growth in August, the State Statistics Service reported
on Oct. 29. The average monthly nominal wage rose to UAH 9,042 a month (USD
321) from UAH 8,977 in August, but declined 1.2% m/m in real terms.

The leading regions for average monthly wages remained
the city of Kyiv (UAH 13,614), the Ukrainian-controlled Donetsk region (UAH
9,850) and the Kyiv region (UAH 9,132).

The largest nominal average wage growth was in public
services and defense (32% yoy) and administration services (31% yoy). Within
the industrial sector, the highest nominal wages were in pharmaceuticals (UAH
16,389), mining (UAH 12,870), and in coke and oil production (UAH 11,398).

Evgeniya Akhtyrko: Accelerated
consumer inflation contributed
to cooling wage growth in real terms in September. We expect real wages to
climb 9-10% yoy in 2018.