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The average gross salary for October 2022 is lower by 0.7 percent compared to the same month in 2021

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The average gross salary for October 2022 is nominally higher by 14.2 percent, and in real terms it is lower by 0.7 percent compared to the same month last year, while the average net salary is nominally higher by 14.1 percent, and in real terms it is lower by 0.8 percent, data from the new edition of the Macroeconomic Analysis and Trends (MAT) newsletter show.

The average gross salary calculated for October 2022 was 104,039 dinars, while the average salary without taxes and contributions was 75,353 dinars.

Net earnings increased by 13.9 percent in nominal terms and by 2.3 percent in real terms compared to the same month of the previous year.

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The growth of gross wages in the period January-October 2022, compared to the same period last year, was 14 percent in nominal terms, and 2.4 percent in real terms.

Median net earnings for October 2022 were 57,810 dinars, which means that 50 percent of employees earned earnings up to the specified amount.

In the period from January to October 2022, there was an increase in the net credit obligations of commercial banks by 240.9 million euros, of the state by 374.2 million euros, and of companies in the amount of 438 million euros.

In the same period, the company’s net claims based on trade credits and advances increased by 1.58 billion euros, while last year this amount was 742.2 million euros.

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Foreign exchange reserves were reduced by 204.4 million euros, while in the same period last year their increase was recorded by 2.67 billion euros, according to MAT.

In October, an increase in foreign exchange reserves was recorded in the amount of 484.9 million euros, as a result of the activities of the National Bank of Serbia on the domestic foreign exchange market by purchasing currency.

In November 2022, inflation was significantly reduced on a monthly basis, and slightly increased on a year-on-year basis.

In October and November 2022, monthly inflation of 1.9 percent and one percent was registered, and year-on-year inflation of 15 percent and 15.1 percent.

In November 2022, the increase in year-on-year inflation, which began in February 2021 and which, after two interruptions, in June and July of the same year, was extended already in August of that year, slowed down.

Overall year-on-year price growth accelerated from 15 percent in October to 15.1 percent in November 2022 due to changes in the consumer basket.

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