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Salaries falling behind inflation

Almost two-thirds of employees in the Middle East and North Africa (MENA) think their salaries are not rising fast enough to keep up pace with inflation, a Middle East employment portal said in a survey released on Sunday.

Inflation is soaring across the Middle East, jumping to a more than 30-year peak in Saudi Arabia, the world's largest oil exporter, and a 19-year peak in Egypt, the most-populous Arab nation.
In its May consumer confidence index, bayt.com found that 63 percent of respondents said their salaries were not keeping up with inflation.

Bayt.com collected responses from April 7 to May 18 from 13,026 respondents in the Gulf Arab region, Syria, Jordan, Lebanon, Egypt, Morocco Tunisia, Algeria and Pakistan.

In the United Arab Emirates, where inflation probably hit 11.4 percent last year according to a Reuters poll in May, 61 percent of respondents said their salaries were too low -- up from 51 percent in January, bayt.com said.

The survey was conducted in conjunction with YouGovSiraj, part of British market research firm YouGov. (Reuters)

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