Polish Real Income Declining

BusinessEconomy ♦ Published: September 20, 2012; 23:09 ♦ (Vindobona)

As the inflation rate is still higher than wage increase, Polish households face a shrinking income.

Polish Real Income Declining / Picture: © Vindobona.org

Last month, Poland´s average wage growth reached € 889 per month. Compared to August 2011, this is an increase by 2.7%. Compared to July 2012, gross wages rose by 0.4%, the Polish statistical office announced. The expected wage growth is lower than recent forecasts.

However, the producer price inflation rate reaches 3.1%. In real terms, the average household income declined by…