Eurostat figures show the EU average for inflation in August was 0.4%, whereas the Czech inflation was 3.4%. It has been above the EU average since January 2019 and the gap has been steadily widening since then. Analysts, however, expect inflation to fall below 3% next year due to the economic fallout from coronavirus. Photo:
In the second quarter of 2020 there was a gross monthly wage increase of 0.5% over last year. The Czech Statistical Office (CZSO) also reported that, as prices had increased 3.1%, real wages had seen a drop of 2.5%. The first time this has happened since the end of 2013. The average monthly salary now
However you measure it, the gender pay gap in the Czech Republic is disappointingly large and is not getting significantly smaller. On average in 2019 the hour pay earned by women was 21.6% less than that earned by men. Generally, Czechs do not feel confident about challenging this. Photo credit: Freepik / For illustrative purposes.
Taxing digital giants is a hot topic. After the failure, so far, of attempts at European and international harmonisation in this area, the Czech government is introducing its own solution. The tax rate of 7% is the highest of any EU state , but the approach is different to other countries. Will it be effective?
Many jobs are seeing salary increases well above inflation. A lot of employees have seen salary improvements of 8-9 percent in the last year. However, there are huge variations in different sectors and the biggest increases have been seen in Finance and Education. If you are missing out, perhaps it’s time for a new job.