Real wages

Wages could rise modestly without creating inflationary pressures, according to a study published in the Bank of Greece's Economic Bulletin.

The two authors of the study, which focuses on the tightness of labor markets post-pandemic, conclude that real wages lag actual productivity levels and, adjusted for inflation, remain lower than pre-pandemic levels.

The Ministry of Finance anticipates a 9.3% increase in wages for Bulgarian businesses this year, as outlined in the latest Convergent Program of Bulgaria. This projected wage growth is slightly lower than the previous year's due to a decline in inflation rates.

The Greek economy remains resilient and is expected to grow at a rate of 2% in 2024 and 2.5% in 2025 as rising employment and real wages and strong tourism boost consumption, according to the OECD's six-monthly report.

Despite the slowdown in new job growth, the employment rate and labour force shortages remain at historically high levels, it was pointed out.

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Inflation is, of course, not only a Greek problem or just an imported problem. It's also not like a storm that can't be dealt with and you just wait for it to pass. Nor, again, is it a neutral phenomenon: It redistributes wealth. As long as consumption holds up, producers and retailers raise prices and profits. Are we experiencing greedflation?

Wages are rising in Japan more than they have in decades, at least for some workers.

But so are prices, leaving many people feeling they must scrimp more than ever.

In May, the consumer price index was up 3.2 percent from a year earlier, well above the central bank's target of about 2 percent.

Wage growth in the Eurozone is expected to be "very strong" over the next few quarters, but real wages are still likely to decline given the sharp rise in inflation, according to an article in the European Central Bank's economic bulletin released on Monday. Reuters.

Inflation in Bulgaria will accelerate to 12.5% in 2022 due to higher energy and food prices and the indirect impact of higher energy prices for businesses on headline inflation. This is what the European Commission predicts for Bulgaria in its summer forecast.

The 5pct economic growth registered by Romania in the first quarter of this year has continued to be sustainable and to be based on the national production of goods and services, Prime Minister Viorica Dancila said on Tuesday in the opening of the Government meeting.

Real wages in Greece fell 3.5 percent in 2017 after a 1.3 percent increase in 2016, making it the largest decline in Europe last year, according to data released by the International Labor Organisation (ILO) on Tuesday.

This was also the largest decline in Greek real wages since a whopping 9.3 percent drop in 2013.