OECD: Estonian purchasing power has returned to the level of several years ago, Latvia and Lithuania are significantly ahead

Real wages in Estonia have fallen compared to 2019, according to a report by the Organization for Economic Co-operation and Development (OECD) published on July 9. Banknotes. Illustrative photo. Photo: Unsplash

Real wages for residents of Estonia have fallen compared to 2019, according to a report by the Organization for Economic Co-operation and Development (OECD) published on July 9.

Translation: Sergey Svetlov

Real wages mean wages converted into actually available services and goods. Thus, it takes into account both wage growth and price growth.

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