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ITALY DATA
Looking at the details of the press release for the recently released Italian wage numbers, we note that December 2023's figure appears to be impacted by a one-off payment to Government employees.
- "In December 2023 the contractual wage index is influenced by the advance payment of an amount - accruing in 2024 - for the government employees (see LD 145 18 October 2023)".
- Hourly wages were thus reported to be 7.9% Y/Y (vs 3.0% prior) and 5.1% M/M (vs 0.0% prior).
- The full press release can be found here: https://www.istat.it/it/files//2024/01/CS_contractual_wages_OCTOBER_DECEMBER_2023.pdf
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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