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STATEC expects 3 salary indexations in 2023

Last time updated
07.11.22
STATEC expects 3 salary indexations in 2023

STATEC has published a fresh inflation forecast. Taking into account the agreements reached during the trilateral meeting, it was revised with a more positive outlook. How positive? Well the inflation level for 2022 is forecasted to be at 6.4%, and for 2023 — just at 3.4%.

However, the inflation levels’ decline does not prevent the indexation of wages, since its indicators are still far from ideal. It is expected that the first indexation will be held at the beginning of the next year, in the first quarter. The second, is rescheduled from 2022 to April 2023. And the final indexation is expected towards the end of the year.

In October 2022, the inflation rate (as calculated by STATEC) was at 6.9%. Such growth completely leveled the results of the trilateral meeting. A significant contribution to the price hike was made by fuel prices, which have risen about 35.2% over the year. Food products are also getting more expensive, especially fresh vegetables (+5%), bread and cereals (+2.7%) and dairy products (+1.9%).

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Last time updated
07.11.22

Source: Delano

Authors: Danila

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