Analysts: inflation and labor shortages are pushing up earnings

High inflation and labor shortages drive wage growth

According to a report released by the Central Statistical Office (KSH) on Tuesday last year, gross average earnings and net average earnings excluding benefits were 10.1 percent higher than a year before, and for the first time since April, the annual growth rate of earnings was in double digits. With inflation at 7.4 percent jumping to a fourteen-year high, real earnings were 2.5 percent higher than a year before. (MTI)