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Real wages in Germany fell 4.4% in the second quarter due to inflation

MADRID, 29 Ago.

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Real wages in Germany fell 4.4% in the second quarter due to inflation

MADRID, 29 Ago. (EUROPA PRESS) -

The impact of inflation on the income of German families intensified in the second quarter of 2022, when the real wages of workers in the leading European economy suffered a 4.4% drop, as reported by the Federal Statistical Office (Destatis).

This is the largest drop in wages in real terms since the second quarter of 2020, when the Covid-19 pandemic crisis caused a downward adjustment of 4.7%.

In the second quarter of 2022, wages registered an increase of 2.9% compared to the same period of 2021 in nominal terms, while the average inflation in the quarter was 7.6%.

Thus, in real terms, the wages of workers in Germany suffered a drop of 4.4% in the second quarter, after the fall of 1.8% in the first three months of 2022 and 1.4% in the last three months of 2021, after stagnating in the second quarter of 2021.

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