The average monthly salary increased by 322 crowns in the third quarter to 24,836 crowns. Adjusted for inflation, this is an increase of only a tenth of a percentage point, which basically signifies a stagnation of wages. Around two thirds of people employed in the Czech Republic, though, receive a lower salary than the average, with the median being currently around 21,000 crowns. Long-term stagnation and slight decreases in real wages is leading to a decrease of household spending, which the Czech National Bank was hoping to thwart with its recent intervention against the crown.
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Czechs observe day of mourning for pop idol Karel Gott
Thousands pay tribute to deceased national pop icon Karel Gott
In memoriam: Karel Gott, the ‘Bohemian nightingale’