Government approves increase in pensions to cover inflation

The government on Wednesday approved another hike in old age and disability pensions to make up for the high inflation. Pensions will go up by an average 700 crowns a month as of September in what will be the third increase this year. The average old age pension will thus increase from roughly 15,000 to 16 thousand crowns a month. The government is bound by law to increase pensions whenever inflation crosses the 5 percent mark. The inflation rate is now at 14.2 percent.