The average real monthly wage in Czech Republic increased 4 percent year-on-year in the third quarter 2019, easing from a 4.3 percent in the previous period and below market expectations of 4.1 percent. It was the smallest gain in real wages since the third quarter of 2017, as nominal wages rose by 6.9 percent to CZK 33,697 and inflation grew by 2.8 percent. Compared to the previous quarter, the seasonally adjusted average wage went up by 1.6 percent. Wage Growth in Czech Republic averaged 2.96 percent from 2001 until 2019, reaching an all time high of 7.40 percent in the third quarter of 2002 and a record low of -3.10 percent in the fourth quarter of 2013.
Wage Growth in Czech Republic is expected to be 4.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Wage Growth in Czech Republic to stand at 3.40 in 12 months time. In the long-term, the Czech Republic Real Wage Growth is projected to trend around 2.90 percent in 2020, according to our econometric models.