The growth of salaries and retail trade in Ukraine in February shows that consumer sentiment is improving, according to Prime Minister Denys Shmyhal.
“The average salary in February was 12.5 thousand hryvnias. Considering inflation, salaries rose by 7.6% YoY. In addition, retail trade in February increased by 5.6% (an increase of 3.5% in January). Such positive dynamics shows that consumer sentiment is improving,” the prime minister wrote on Facebook, Ukrinform reports.
Shmyhal noted that additional payments to entrepreneurs, as well as the indexation of pensions would only contribute to this process.
In February, the average nominal salary in Ukraine amounted to UAH 12,549, up by 15.7% YoY, according to the State Statistics Service.
The average nominal salary of Ukrainians in February was 2.1 times higher than the minimum wage (UAH 6,000). Compared to January, the average nominal wage rose by 1.7%.
The highest average nominal salaries in February were recorded in the information and telecommunications sector UAH 23,001 (+23.3%). The lowest average nominal salaries in February were recorded in the temporary accommodation and catering sector – UAH 7,892 (+6.5%). (Ukrinform/Business World Magazine)