Real disposable income in August of this year decreased by 8.3% year-on-year. This is the maximum decline in this index since 2009, reports TASS with reference to data of monitoring of economic development in January – August 2016.
“In August of 2016 was recorded maximum in 2009, the decline in real disposable income (-8,3% year-on-year). In addition, in August the income of the population decreased in nominal terms – a decline of 0.9% in annual terms,” – noted in the monitoring of the MAYOR.
In addition, the document says that the reduction in real disposable income in eight months of 2016 increased to 5,8% the corresponding period of the previous year.
“The real wages of workers, according to estimates, in August fell by 1% year-on-year. Given the positive momentum of the first half of 2016 as a whole for January – August compared to the same period in 2015, real wages have decreased by only 0.3%,” write the experts of the Ministry of economic development.
It is also noted that the savings rate with the exception of the seasonal factor in August 2016 increased to 11.9% of disposable income in July was recorded the lowest level since the beginning of 2015 and 11.5%).
Recall that real disposable income is determined based on adjusted price index for cash income of the current period less compulsory payments and dues.