Economics
German Workers Are Being Squeezed by Surging Inflation
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German workers are seeing their incomes eroded by surging consumer prices. Negotiated real wages, which are adjusted for inflation, fell by 1.8% in the first quarter, data showed Monday. While the 4% nominal increase from a year ago was the fastest since before the pandemic, inflation was quicker still -- reaching 5.8% in the three months through March. Talks over wages aren’t over yet, however, with workers in the iron and steel industry pushing for an 8.2% increase to offset the rising cost of living.
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