Hourly labor costs in Cyprus fell for the first three months of the year, according to the EU.
Cyprus is one of the four countries of the EU, where the hourly pay fell. Fall indicator was recorded in Slovenia (-3.8%), Spain (-0.7%), Cyprus (-0.5%) and Portugal (-0.3%).
Hourly labor costs in the euro area increased by 1,6% per year (up to the first quarter of 2013 years) compared with 1.3% in the fourth quarter 2012 year.
In the EU-27 annual growth of 1,9% until the first quarter 2013 year, compared with 1.3% in the previous quarter.