{"id":122867,"date":"2021-10-13T23:34:44","date_gmt":"2021-10-13T23:34:44","guid":{"rendered":"https:\/\/fin2me.com\/?p=122867"},"modified":"2021-10-13T23:34:44","modified_gmt":"2021-10-13T23:34:44","slug":"rising-german-inflation-calls-for-noticeable-wage-gains-union-chief-says","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/rising-german-inflation-calls-for-noticeable-wage-gains-union-chief-says\/","title":{"rendered":"Rising German inflation calls for 'noticeable wage gains', union chief says"},"content":{"rendered":"
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 <\/figcaption>

BERLIN (Reuters) – Rising inflation in Germany calls for \u201cclearly noticeable real wage increases\u201d, the chairman of services sector trade union Verdi said in comments released on Thursday.<\/p>\n

German inflation accelerated in September to 4.1%, its highest since December 1993, driven up by energy and food costs.<\/p>\n

\u201cSince 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,\u201d Verdi chairman Frank Werneke told media group RedaktionsNetzwerk Deutschland.<\/p>\n

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\u2019 purchasing power further.<\/p>\n

The European Central Bank is closely watching inflation expectations and wage developments in the euro zone and also Germany, the bloc\u2019s largest economy.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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. 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