Connect with us

Hi, what are you looking for?

The Smart Citizen Report

Investing

Rising German inflation calls for ‘noticeable wage gains’, union chief says

Economy22 minutes ago (Oct 13, 2021 07:20PM ET)

(C) Reuters. FILE PHOTO: Customers at the food discounter ALDI buy groceries, as the spread of coronavirus disease (COVID-19) continues, in Duesseldorf, Germany, April 29, 2020. REUTERS/Wolfgang Rattay/File Photo

BERLIN (Reuters) – Rising inflation in Germany calls for “clearly noticeable real wage increases”, the chairman of services sector trade union Verdi said in comments released on Thursday.

German inflation accelerated in September to 4.1%, its highest since December 1993, driven up by energy and food costs.

“Since the price jumps for food, energy and petrol, for example, affect people with lower and middle incomes in particular, our wage demands include minimum amounts so that wage increases have an above-average effect on these workers,” Verdi chairman Frank Werneke told media group RedaktionsNetzwerk Deutschland.

Economists are looking for signs that higher inflation expectations will lead to higher wage increases which could kick off a wage-price spiral, driving inflation higher still and eroding households’ purchasing power further.

The European Central Bank is closely watching inflation expectations and wage developments in the euro zone and also Germany, the bloc’s largest economy.

Rising German inflation calls for ‘noticeable wage gains’, union chief says

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Join Our Time-Limited Free Subscription! Get Latest Trading Ideas, Business Info and Market Stocks.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

You May Also Like

Editor's Pick

 Going Full Liberal In response to the arrest of a man who walked into a cafe holding a baseball bat and screaming through a megaphone, a...

BREAKING NEWS

Cryptocurrency1 hour ago (Mar 15, 2021 05:00AM ET) XRP Price Prediction if It Wins Lawsuit 2020 was a striking year for cryptocurrencies as it...

BREAKING NEWS

World50 minutes ago (Jul 23, 2021 08:52AM ET) (C) Reuters. FILE PHOTO: A medical worker prepares a syringe at a coronavirus disease (COVID-19) vaccination...

Editor's Pick

Going Full Liberal More trouble for creepy Joe. An extensive new survey by Morning Consult of nearly 28,000 registered voters presents some troubling numbers for the...

Editor's Pick

Going Full Liberal National Public Radio (NPR) posted a tweet Saturday urging every reader to begin “decolonizing your bookshelf.” According to NPR, “white voices...

Editor's Pick

Going Full Liberal The liberal plan?  Get the body count as high as possible to hurt Trump.  These people are disgusting. Last week, the...

Editor's Pick

Going Full Liberal Liberal brilliance on full display. New York City appears to have experienced a surge in shootings this week after the New...

Editor's Pick

Going Full Liberal In the past few weeks, demonstrators — mobs, really — have destroyed or defaced the following statues across the United States....

Disclaimer: TheSmartCitizenReport.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.

The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

© Copyright 2021,TheSmartCitizenReport.com All Rights Reserved