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March 31 – April 6, 2014

Wage growth lags behind price growth

The situation has not changed
Wage growth lags behind price growth

Worker’s tariff rates have increased by 5.8%, but that will not compensate for the Q1 2014 inflation rate.

As a result, nominal wages in the public sector will increase, as well as students’ stipends, and other benefits tied to the tariff rate. Wage growth lagging behind the inflation rate implies that real incomes in public sector will decline; human resource capacity in this sphere will reduce, as well as the dynamics of retail trade turnover.

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