Average net wage in Montenegro stays flat at EUR 477 in October 2011.

By bne IntelliNews November 17, 2011
The average net salary in Montenegro amounted to EUR 477 in October, unchanged from a month ago, according to information published by the country's statistical office (Monstat). In October, the highest annual increases were registered in the hotels and restaurants, state administration and social insurance branches and trade where net wages rose by 12.2%, 10.1% and 6.1%, respectively. Net salaries decreased the most in the construction sector - by 8.4% y/y. Gross earnings dropped marginally to EUR 711 from EUR 712 in September. According to our calculations, the average net wage fell by 3.2% y/y in real terms, decelerating from 4.1% y/y a month earlier. In the period from January to October, the average net wage in the country increased at a slower rate than inflation - by 1.9% y/y, compared to consumer prices for the period rising by 3.1% y/y .

Average net wage in Montenegro stays flat at EUR 477 in October 2011.

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