Purchasing Power of Wages in the Russian Federation and the EU: A Comparative Analysis

In connection with the focus of state policy on improving the quality and standard of living of the population, the analysis of wages as one of the main indicators of the quality of life is relevant. The thesis aims to compare real wages in Russia with the countries of the European Union (EU), most of which are among the most economically developed, in order to identify the differences between them and the reasons for such differences. Since improving the level and quality of life in Russia is currently an important task, the study of such an important indicator as the salary of the population is not only interesting, but also necessary. But what is important for the analysis is not the income itself, but its purchasing power, which indicates what the consumer can afford to buy. However, both nominal and real wages in Russia are considered low compared to developed countries. That is why the purpose of this paper is to compare the purchasing power of wages in Russia and the EU countries as the most economically developed.