Wage dynamics

7.8 % yoy nominal

Current value (denomination)

6.6 % yoy nominal

Last quarter's value

Wage dynamics

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CBA Commentary

Average nominal wages accelerated their annual growth rate to 7.8% in the second quarter of 2025 from 6.6% in the previous quarter. As consumer price growth moderated to 2.4%, real wage growth accelerated to a 5.3% annual rate in the second quarter from 3.8% in the first quarter. \As a result, real wage growth in the second quarter of 2025 was above its long-term average of 2.8% from 1998-2019 and is above its pre-pandemic average of 4.3% from 2015-2019.

Source of primary data

CZSO

Note

Data unadjusted for seasonal effects.

Category

Economics

Data frequency

Quarterly

Related Charts

Comments

Weak July industrial and services recovery hinders continuation of solid GDP growth

8. 9. 2025

7 min. reading

Economic commentary by Jaromír Šindel, Chief Economist of the CBA: Although the economy breathed a half-percent growth in the second quarter, the July figures were rather disappointing and suggest a cooling. However, the Czech economy is generating upside risks to inflation, which limits the room for manoeuvre of the CNB, which is likely to stick to the CNB's 3.5% terminal interest rate thesis. August's registered unemployment confirmed a worse trend, which, however, is not confirmed by other data.

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