Retirement pensions to rise in August

Labour and Social Affairs Minister Petr Nečas said retirement pensions in the Czech Republic would rise by 5.1 percent in August this year; average pension will increase by almost 500 crowns, or more than 30 U.S. dollars. The extraordinary increase of retirement pensions is due to the high inflation in the Czech Republic which in January reached 7.5 percent year-on-year.