Average net wage in Montenegro down 1% y/y in November.

By bne IntelliNews December 19, 2012
The average net wage in Montenegro dropped by a nominal 1% y/y to EUR 478 in November after an annual increase of 0.6% y/y registered in the previous month, statistics office data showed. Gross earnings declined to EUR 713 from EUR 717 in October and went down by nominal 1.1% as compared to the year-ago period. According to our calculations, the average net wage fell by 5.9% y/y in real terms, and the drop accelerated from October's 4.3% y/y. In the period Jan-Nov 2012, the average net wage in the country increased at a slower rate than inflation - by 0.4% y/y, compared to consumer prices for the period rising 4.1% y/y on average, which should have a containing effect on domestic demand and consumption.

Average net wage in Montenegro down 1% y/y in November.

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