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  • Collectively agreed earnings rise significantly less than consumer prices

Wiesbaden, German – In 2023, collectively agreed earnings in Germany rose by an average of
increased by an average of 3.7 % compared to the annual average in 2022, the federal statistics office (Destatis) said Friday.

Collectively agreed earnings excluding special payments in 2023 increased by 2.4% compared to the previous year, Destatis said.

In the same period, consumer prices increased consumer prices increased by 5.9%. This continued the trend from 2022 and 2021, in which consumer prices also rose faster than collectively had also risen faster than collectively agreed wages.

In the previous years, the trend had had been the other way around. The significantly stronger increase in collectively agreed earnings with special payments is due to inflation compensation premiums paid out in 2023.

By Silvia Orfeo

Silvia Orfeo is a Sr. Politics and Economics Reporter at Nobot.News

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