Rising wages set to increase inflation – ECB research
Strong GDP growth and employment creation underpins higher underlying price pressures
Higher wage growth in the eurozone is set to increase inflation, despite flat unit labour costs, says research published by the European Central Bank on August 7.
In The role of wages in the pick-up of inflation, José Emilio Gumiel and Elke Hahn argue the stronger growth recorded in the single-currency area over the last few quarters “reflects the relevant signal concerning upward cost pressures on underlying inflation”.
After years of weak expansion, compensation per hour worked rose by
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