Average wage hike fastest in decade

The average wage in the Czech Republic grew by 7.6 percent to 29, 346 crowns in the second quarter, according to data released by the Czech Statistics Office. Minus inflation the growth is 5.3 percent which is the fastest wage growth registered in the last ten years.

According to analysts this reflects the exceptionally healthy state of the economy and low unemployment rate. They predict it will lead the central bank to effect another hike in interest rates in September.