Economics
Wage Anomaly in Russia Is Latest Hurdle for Monetary Easing
- Central bank says `mixed data' in wages raises inflation risks
- Surge in salaries topped inflation first time since late 2014
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The Bank of Russia is puzzled.
What it knows is that “mixed data” in nominal wages was enough of a concern to rank it among the key risks for price growth after its interest-rate decision in April. What it doesn’t, at least not yet, is whether it was a one-off or the latest catalyst for inflation that’s paralyzed monetary policy.