Minimum wage and living wage to rise above inflation since January 1

The minimum wage and the living wage will be increased over inflation in Russia since the New Year, said Anton Kotyakov, the Russian Minister of Labor, at a meeting with President Vladimir Putin on supporting the income of families with children.

“The minimum wage, taking into account the ten percent indexation carried out, will increase by 16.9% compared to the level of January 1, 2022, and the cost of living by 13.6%. The living wage and the minimum wage will increase above the expected inflation,” Anton Kotyakov said.

He clarified that this is the second stage of increasing the minimum wage. The Minister also pointed out that the indexation was carried out with the rapid growth of inflation, which the country faced in the spring.

In the federal budget for the next three years, the growth rate of the minimum wage is set above the growth of the living wage, and by the end of the three years, the difference is expected to reach ten percent.

To increase the income of working Russians, it is necessary to consistently increase the difference between the minimum wage and the living wage, Anton Kotyakov added. As the minister pointed out, the target is more than 30%.