16:04 17 February 2024
Inflation No Longer Eating Up Wage Increases in Poland
At the end of last year, wages in Poland were already growing much faster than inflation. This will strengthen the old trend of rising disposable income. In terms of the pace of this growth, Poland is already in the top group of OECD countries.
According to data from the Central Statistical Office (GUS), the average national salary in companies in the fourth quarter of last year increased by 11.5 percent y/y. At the same time, inflation was 6.4 percent y/y. This means that the so-called real wage growth was already very high. The OECD itself draws attention to this in its reports.
Real disposable income growth distinguishes Poland – in the third quarter, it was in the top group. Only one country outpaced us.
“The largest increase (5.5 percent) was recorded in Hungary, due to a strong increase in employee compensation, self-employment income, and property income,” the OECD noted.
