The Cyprus hourly labour cost rose by 5.5% in the third quarter of 2022, compared with the same quarter of the previous year, according to provisional data released on Monday by the Statistical Service of Cyprus (Cystat).
The two main components of labour costs, wages and salaries per hour worked and non-wage costs per hour worked increased by 5.6% and 4.9% respectively, compared with the same quarter of the previous.
According to Cystat, the seasonally adjusted hourly labour cost (total cost) increased by 1.0% compared to the previous quarter.
The hourly labour cost that refers to wages and salaries, seasonally adjusted, increased by 0.6%, while the non-wage cost increased by 2.9%, Cystat added.
Source: Cyprus News Agency