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Wages increase faster than inflation in Poland

17th October 2011
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Wages in Poland are growing faster than the price of goods. The Central Statistical Office (GUS) said that from September 2005 to September 2011, the price of services and goods for consumption rose by 19.3 percent. During the same period of time, the nominal wage increased by 44.6 percent in the corporate sector and by 43.4 percent in the entire market.

"That means that the notion that real wages do not catch up with inflation is not true," Maciej Krzak, economist from the CASE Center for Social and Economic Research, told Rzeczpospolita. He added that real wages have increased by over 25 percent in the last six years.

"High growth of individual consumption is an indirect proof that wages must grow in real terms," Małgorzata Starczewska-Krzysztoszsek, chief economist with the Polish Confederation of Private Employers Lewiatan, told Rzeczpospolita.

Wages increased at their fastest rate between 2007-2008. This year they have gone up 1 percent faster than inflation.

Poland A.M.


From Warsaw Business Journal


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