Real incomes of the population in the OECD in the first quarter fell by 1.1%

The real incomes of the population of the countries of the Organization for Economic Cooperation and Development (OECD) in the first quarter of 2022 decreased by 1.1% compared to the previous three months.

At the same time, the indicator is 2.9% higher than the pre-pandemic level (fourth quarter of 2019), the organization says.

The decrease in revenues in annual terms is due, among other things, to an increase in the growth rate of consumer prices. Among the G7 countries, the negative impact of inflation was most evident in France and Germany, where household incomes fell by 1.9% and 1.7%, respectively.

The growth of the indicator was recorded only in Canada (+1.5%) and Italy (+0.3%). Data for Japan are not available.

According to updated data, in the fourth quarter of 2012, the income of residents of OECD countries decreased by 0.1%, and not by 0.3%, as previously announced.

Real GDP per capita in the first three months of this year increased by 0.2% after rising by 1.2% in October-December.

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