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Wages rise 6.9% yr/yr in August

Gross monthly wages rose 6.9% year-on-year in August and were up 10% in the first eight months compared to a year earlier, the Central Statistical Office (KSH) said on Tuesday. Net monthly wages were 8.6% higher in August and up 10.9 % in the first eight months. Real wages were up 4.8 % in August, taking into account inflation of 3.6%. Business sector gross wages rose 6.9% year-on-year in August and were up 7.1% in January-August from a year earlier. Public sector gross wages were up 7% in the twelve months to August. Public sector wages rose 15.7% in the first eight months, as the yearly one-month bonus payments in the sector for 2004 were paid out in January instead of the previous December.