-
German Wages Jump at Start of Year in Risk to Inflation Slowdown
German wages rose sharply at the start of 2024 — dealing a blow to the European Central Bank as it decides whether inflation is slowing enough to reduce interest rates. Negotiated pay increased 6.2% in the first quarter, the Bundesbank said Wednesday in its monthly report. That exceeded estimates by analysts at Bloomberg Economics, Citi and Morgan Stanley, though the figure includes one-off payments to compensate workers for the surging cost of living. The data come just a day before a highly anticipated reading for the 20-nation euro zone as a whole. The worry is that stronger-than-expected salary gains in ... (full story)