The uncertainty surrounding the timing of the upcoming wage indexation has been resolved by the National Institute of Statistics and Economic Studies (STATEC).

Prior to the announcement on Wednesday, there had been ambiguity whether the wage indexation would be implemented in September or delayed until October.

Based on calculations conducted by STATEC, it was officially determined that the forthcoming wage indexation would indeed be activated on 1 September 2023.

As a direct consequence of this indexation, salaries and pensions in the subsequent month are rising by 2.5%.

Looking ahead, forecasts indicate that the subsequent wage indexation following the September adjustment is slated for the third quarter of 2024.

STATEC's outlook on inflation remains consistent, maintaining its earlier predictions. Inflation is anticipated to average at 3.9% throughout the current year, with an expected decrease to 2.5% for the year 2024.