BIEC: No significant change in prosperity index

The prosperity index calculated by the Bureau for Investments and Economic Cycles (BIEC) has not changed markedly in August compared with July, when it stood at 98.5 points. In August it declined by 0.1 percentage point. BIEC said that the index reached its last local maximum in March, due to decreasing prices and rising salaries (including payout bonuses). Recently, however, the pace of salaries’ growth slowed down to 3 percent (in March, it was nearly 5 percent).  Also, the employment volume is growing at slower pace. All these factors negatively influence the condition of households, reducing their purchasing power.