Average wage up by 7 percent year-on-year

The average monthly wage in Czechia in the third quarter rose by 7 percent year-on-year to CZK 45,412, the Czech Statistics office reported on Wednesday. In real terms, taking into account inflation, earnings rose by 4.6 percent. However two-thirds of employees earn less than the average wage.

The median wage, a midway between the highest and the lowest levels, increased by 6.6 percent year on year to CZK 40,482. It was CZK 42,893 for men and CZK 37,824 for women.

Despite the significant increase in nominal wages this year, rising consumer prices over 2022 and 2023 have diminished purchasing power. According to statisticians, the real value of employee wages has fallen back to the same level as in 2018.