Romanians’ wages rise fast but lag behind inflation for second quarter in a row
The net average wage in Romania increased by 12.9% YoY to RON 3,970 (EUR 808) in Q3, but the high inflation turned the nominal growth into a 2.2% YoY annual contraction, according to data published by the statistics office INS.
iulian ernst · Journalist
· Updated · 1 min read
The net average wage in Romania increased by 12.9% YoY to RON 3,970 (EUR 808) in Q3, but the high inflation turned the nominal growth into a 2.2% YoY annual contraction, according to data published by the statistics office INS.
It was the second quarter in a row when the average wages posted negative real annual growth after a similar 2.1% YoY contraction in Q2.
The average wage in Romania actually stagnated in Q3 compared to Q2 (+0.3% QoQ) after a combined leap of 12.5% in the previous three quarters.
In related news, the minimum statutory gross wage in Romania will increase by 17.6% in 2023 compared to 2022, to RON 3,000, according to a draft bill published by the labour ministry. This is the equivalent of RON 18.1 per hour. The growth in euros will be marginally smaller, given the steady exchange rate.
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