[CNA] 6.8% lower purchasing power of wages compared to 2006, according to a report by INEC

The purchasing power of the average wage in Cyprus is 6.8% lower than in the period 2006-2012, says a report by the Cyprus Labour Institute, presented on Wednesday by INEK's research associate Ilias Ioakimoglou, at an event organised online by the PEA. The downward trend in real wages and labour devaluation are still ongoing, it was noted during the presentation.

As he showed with a relevant graph, the purchasing power of the average wage had declined to -11% in 2014 after the implementation of the memoranda.
(CNA)


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