Data show record-long decline in real wages in Czechia

Real wages in Czechia have declined year-on-year for seven successive quarters, the longest ever uninterrupted period of decline in the country’s history, the ctk news agency reported. According to   data released by the Czech Statistics Office the average monthly wage in the 2Q rose by 7.7 percent to 43,193 crowns. Taking into account inflation of 11.1 percent the average real wage dropped by 3.1 percent. However due to falling inflation the decline in real wages in the second quarter was the lowest since the 4Q of 2021.