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Wage increases between the end of 2020 and the beginning of 2023 do not indicate a wage-price spiral, the Banque de France said Friday, with inflation set to decline over the course of this year before reaching the ECB’s 2% target no later than the end of 2025.
Rising industry wages have been fuelled principally by 2022’s increase to the national minimum wage, the bank said. Firm-level negotiated wage hikes for 2023 average 4.44%, up from 2.8% last year and 1.4% in 2021. However this is in line with expectations, the March-April 2023 Bulletin reported.
MNI London Bureau | +44 20 3983 7894 | luke.heighton@marketnews.com
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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