Important changes have been introduced for Ukrainians since August 1.Starting from August 1, some employers will have to index wages for employees.
As we know, last year it was allowed not to review wages, but this year most have to do it again.
For indexation, it is necessary that the consumer price index be at least 103%. For the first time in 2024, such an indicator was recorded in June, and published in July, therefore the indexation of salaries should be carried out starting from August 1.
It is worth noting that not everyone should do this. The fact is that some employers during this period provided additional incentive payments due to the high level of inflation. Therefore, they should index the salaries of employees the following month after the salary increase.
Therefore, these changes from August 1 will not affect those who increased the monthly tariff rates in one of the periods:
- in July, any amount;
- in August for an amount equal to the amount of indexation.
Wage indexation is the process of adjusting the wages of employees in order to preserve their purchasing power in conditions of inflation. It helps offset rising prices of goods and services by ensuring that real wages for workers remain stable.
