The average salary in the business sector in October 2024 increased by 10.2 percent year on year. The reading turned out to be slightly better than the consensus (10.1 percent). The salary dynamics is still double-digit, however, it is getting closer to single-digit readings. I expect these in 2025.
The real salary dynamics remain positive: around 5 percent, but it is decreasing month by month. Here two opposite phenomena are acting. On one hand, the momentum of salaries is decreasing, on the other hand, inflation is rising again.
Bartosz Walecki, Analyst, Trader Michael / Ström Dom Maklerski
