Europe
Using figures from the Eurostat statistics agency, the ETUC shows how prices soared in 2022 by 9.2%, more than double the level of pay increases, recorded at 4.4%. The ETUC points out that the gap is even wider for the most essential living costs with housing and utilities prices rising by 18%, four times faster than wages, while transport and food (12%) increased three times faster. Real wages, taking into account inflation, have fallen in every EU member state this year by as much as 9%. The ETUC contrasts this with data on real profits which actually increased by 1%.
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