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Russian Incomes Accelerate Drop in January

Russians' real incomes saw a sharp fall in January, falling by 6.3 percent year-on-year, the Rosstat state statistics service said in a report Thursday.

In December, real incomes shrank by only 0.8 percent compared to the same month in 2014, Rosstat said.

Last year, real incomes fell by 4 percent, compared to 2014. At the same time, real wages fell by 9.5 percent in 2015, according to Rosstat.

The decline comes as the Russian economy has been slowing under the pressure of Western sanctions and falling prices for oil. In 2015, the economy shrank 3.7 percent.

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