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Czech Real Wages Drop Slows in Q3

Figures

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The average real monthly wages in the Czech Republic fell 0.8% year-on-year in the third quarter of 2023, following a downwardly revised 2.8% drop in the previous period, the Prague-based Czech Statistical Office (CZSO) said in a statement on Monday.

It was the eight consecutive quarter of decline in real wages, amid persistent high inflation, accelerating to an annual 8.5% in October from a prior 6.9%.

The average gross monthly nominal wages in the national economy in total was CZK 42,658 (EUR 1,748) in the Q3, 7.1% or CZK 2,810 higher compared to the same period last year.

Compared to the previous quarter, the seasonally adjusted average wages went up 1.5%. 

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