Salaries up slightly but not keeping pace with inflation

According to official figures released on Tuesday, the average salary in the Czech Republic rose to CZK 24,514 in the third quarter of this year, representing an increase of 1.4 percent year-on-year. However, given that consumer prices grew by 3.3 percent in the third quarter, wage-earners were worse off than in the same period in 2011. Analysts said they had not expected such a marked fall in real incomes.

Author: Ian Willoughby