OREANDA-NEWS. In September, average wages in Ukraine rose by 2% m/m and reached UAH 1426 (USD 282) per month according to the Millennium Capital analytic center with reference to the State Statistics Committee. As compared with September 2006, average wages increased by 31.2% from USD 215 per month. As usual, the highest average wage was registered in the City of Kyiv at USD 477 per month. The lowest average wage was registered in the Ternopol region at USD 196 per month.

According to the experts, the increase in wages is contributing to the higher demand on consumer market and so is also one of the causes of high inflation (2.2% m/m in September). "We expect that average wages in the economy will continue rising further in 2007-2008 at the average rate of about 2% per month, stimulating growth in domestic consumption industries and related stocks as well as increase in savings of population, increasing portions of which would be going to domestic investment funds," the analysts comment.