Real wages in Czechia see biggest drop in EU
Real wages in Czechia will fall by 8.3 % this year due to two-digit inflation. It will be the biggest drop among the Visegrad Four countries (the Czech Republic, Slovakia, Poland and Hungary) and a steeper decline than the EU average, according to an analysis by the investment company Cyrrus.
Wages in the EU are expected to drop by around 2.3 percent on average this year, by 2.1 percent in Poland, 1.1 percent in Slovakia and 0.3 percent in Hungary.
Czechia will likely see another decline in real wages next year, by an estimated 0.1 percent. Meanwhile, real wages in the EU are expected to rise by 0.6 percent on average in 2023, by 0.6 percent in Poland, 0.7 per cent in Slovakia and 2.3 per cent in Hungary.