Czech Q1 average wages up 7.8 pct year-on-year |
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Mon, 04 Jun 2007 17:52
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WARSAW (Thomson Financial) - Average wages in the Czech Republic rose 7.8 pct year-on-year in the first quarter of 2007, with the average nominal monthly wage reaching 20,399 crowns, the Czech Statistical Office (CSU) said.In the private sector average wages rose by 8.3 pct while in the state sector it was a 6.1 pct increase.Consumer prices in the same period increased by 1.5 pct.The Czech central bank raised its main interest rates from 2.5 pct to 2.75 pct in May, after growth figures showed GDP grew by a record 6.1 pct in 2006.The Czech Republic still has the lowest interest rates in the EU and analysts expect the central bank to up borrowing costs further this year in a bid to cool the economy and slow inflation.jana.mlcochova@thomson.comjm1/jfrCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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