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Indicator Analysis: The strength of wage growth in 4Q25 exceeded the CNB’s expectations

06/03/2026 15:35

The average nominal wage in the Czech Republic increased by 7.4% yoy in 4Q25, up from 7.1% in the previous quarter. After seasonal adjustment, we estimate that this represents an increase in qoq wage growth from 1.2% to 1.9%, with extraordinary bonuses also likely contributing to the acceleration to some extent. From a sectoral perspective, yoy wage growth continues to be driven by the private sector where the average nominal wage increased by 7.8% yoy, compared to an increase of 6.4% in the public sector. After adjusting for inflation, the purchasing power of the average wage increased by 5.1% yoy in 4Q25. On a full-year basis, wages increased by an average of 7.2% in nominal terms in 2025 (the same as in 2023 and 2024) and by 4.6% in real terms.

Autor: Jaromír Gec
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