NBU cuts rates 100bp to 13.5% on falling inflation
3 hours ago
Real wages in Ukraine grew 14.7% year-on-year in July, accelerating from 13.0% y/y growth in June, the Ukrstat state statistics service reported on August 28.
The average monthly nominal wage increased to UAH9,170 ($347) a month from UAH9,141 in July, which is 1.0% month-on-month growth in real terms.
The leading regions for average monthly wages remained the city of Kyiv (UAH13,836), the Ukrainian-controlled Donetsk region (UAH9,764) and the Kyiv region (UAH9,410).
The largest nominal average wage growth was in real estate services (45% y/y), public services and defence (42% y/y) and administrative personnel (32%y/y). Within the industrial sector, the highest nominal wages were in pharmaceuticals (UAH16,844), mining (UAH12,868), and in coke and oil production (UAH11,336).
"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% y/y in 2018," Evgeniya Akhtyrko at Kyiv-based brokerage Concorde Capital wrote in a note on August 29.
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