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Russians' real disposable income drops 5.7 percent in May

Xinhua, June 21, 2016 Adjust font size:

Russians' real disposable income decreased by 5.7 percent in May, the federal statistics service Rosstat said Tuesday.

From January to May, Russians' real disposable income went down 4.9 percent compared with the same period of 2015, according to newly released figures on the agency's website.

The real disposable income excludes taxes and other mandatory payments and its performance is adjusted for inflation.

The nominal average monthly salary reached 36,570 rubles (570 U.S. dollars) in May, up 6.2 percent on year, Rosstat said.

The Russian economy has plunged into recession since 2014 amid the drop of the global oil prices and Western sanctions imposed over Moscow's alleged intervention in the Ukraine crisis. Endi