Inflation erodes pay, down 4.3% in real terms from 2021

NEWS 20.09.202214:44 0 komentara
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The average net pay in Croatia in legal entities in July 2022 amounted to HRK 7,576 (€1,005), which is a nominal drop of 1.8% and a real drop of 2.2% compared to June, while compared to July 2021, the average net pay was 7.5% up in nominal terms and 4.3% down in real terms.

The real drop in wages is due to record-high inflation. Consumer prices in July 2022 were 12.3% higher than in July 2021, and the same inflation rate was reported in August as well.

The median net wage for July 2022 amounted to HRK 6,451 (€856), meaning that half of the employed persons had wages below that amount and the other half had wages above that amount.

The highest average wage in July was paid in air transport, HRK 12,202 (€1,620), and the lowest in personal service activities, HRK 4,986 (€662).

In the January-July 2022 period, the average monthly net wage paid by legal entities amounted to HRK 7,569, which is 6.9% more in nominal terms compared to the same period of 2021, and 2.1% less in real terms.

The average hourly net wage in July was HRK 44.18, 2.2% more compared to the previous month and 12.1% more compared to July 2021.

(€1 = HRK 7.5)

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