Pension payments in Russia have been depreciating for eight months in a row – starting from February this year. This follows from the data published by Rosstat. In February, pensions in real terms decreased by 0.1 percentage points compared to the same period in 2020. After that, the depreciation of payments continued in March (0.2 pp), April (0.1 pp), May (0.5 pp), June (1 pp), July ( 0.9 pp) and August (1 pp). The decline reached its maximum in September – then pensions depreciated by 1.8 percentage points.
Pensions are depreciating amid rising inflation. Nominally, in September, they grew by 5.5% in annual terms. At the same time, inflation this month reached 7.4% yoy.
It is worth noting that in January-September 2021, due to budget payments, a decrease in mandatory payments and an increase in real wages, the population’s monetary incomes were recovering. However, the growth in real wages was also offset by rising inflation.
Details – in the material “Kommersant” “Citizens embarked on spending.”
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