Average wages grew by 8.9%, year-on-year, in the third quarter and reached CZK 14 410 (CZK 1 183 more than in the Q3/2000). As an average rate of inflation amounted to 5.4%, real wages rose by 3,3%. In business sphere average wages increased by 8.6% to CZK 14 881. In non-business sphere wages grew by 10.9% to CZK 12 467. Wage differences between individual industries widened again. The highest growth of average wages was recorded in air transport (an increase of 19.4%) and financial intermediation (15.4%).
Electricity prices for households will not change differently in regions as Energy regulatory office proposed recently. The government decided to increase electricity prices for households by 9.9% in all regions. Similarly, gas prices for households should be raised by 5.0%. These administrative price changes will contribute to the increase of CPI by 0.4%.
American economy fell officially into recession. National Bureau of Economic Research (NBER), who measures cyclical development of the U.S. economy, said that the economy is already declining. According to its estimates the recession started in March.
The consortium Atlantic West yesterday rejected a final offer by Cesky Telecom for purchase of a 49% stake in mobile operator Eurotel worth USD 1.1bn.
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