Upcoming salary negotiations are likely to push wages up, raising fears of wage-price spirals.
Inflation reached 8.1 percent in the eurozone in May, according to Eurostat's preliminary reading. ECB estimates wage growth to clock in at 3% this year, then declining to 2.5% the next. "There's galloping inflation and wages aren't keeping pace," said Luca Visentini, secretary-general of the European Trade Union Confederation. [Inflation eats wages, leaving workers hungry – Politico]
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