NBP report: fewer companies plan price and wage increases in Q3 ‘24
Source: Pexels
According to the NBP's "Quick Monitoring" report, 34.4% of firms plan wage increases, down from 36.3% in the previous quarter but still above the long-term median of 29.3%. The decline in planned raises occurred across most sectors, except for construction. Mining saw the sharpest drop (14.8 percentage points), followed by water management (8.4 points), and trade and energy (3.4 points). Transport companies were most likely to plan wage hikes (39.1%).
Among firms planning raises, 34% aim for increases under 5%, 63% plan 5-10%, and only 3% expect over 10%. The average planned quarterly raise remained stable at 6%, with a median of 5%. Over the next year, 66.1% expect wage increases, with most planning 5-10% hikes.
