Chamber of Commerce: real wages increased by 141 percent since 1993

Real wages in Czechia had increased by 141 percent between 1993 and 2021, according to an analysis by the Czech Chamber of Commerce cited by the Czech News Agency on Sunday.

While in 1994, the average wage in Czechia stood at CZK 7,004, by the end of 2021 it reached CZK 40,135. Wages grew at the fastest pace in 1995 and 1996 due to a recovery in growth following the economic transformation. By contrast, last year saw the deepest decline in real wages as a result of energy crisis and inflation.