Czech Real Wages Drop Further in Q4
The average real monthly wages in the Czech Republic dropped 1.2% year-on-year in the fourth quarter of 2023, following a 0.8% fall in the prior period, data released by the Prague-based Czech Statistical Office (CZSO) showed on Tuesday.
It also marked the ninth consecutive quarter of decline in real wages. The average gross monthly nominal wages in the national economy rose to a total of CZK 46,013 (EUR 1,815.90) in the three months to December 2023, which is by CZK 2,734 (EUR 107,90), or 6.3% higher than in the same period of 2022.
In the aforementioned period, consumer prices increased by 7.6% and the wage therefore decreased in real terms by 1.2%.
The median wage in the Q4 of 2023 was CZK 39,685 (EUR 1,566). The male median wage reached CZK 42,340 and the female one was CZK 36,842. Compared to the previous quarter, the seasonally adjusted average wages went up 1.5%.
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