German H1 Wage Increases Higher Than Y-o-Y Rise In CPI

Sponsored Links

Many of the standard wage increases which became effective in Germany in the first half of 2009 were ranged between 2% and 3%, the Federal Statistical Office said Friday.

Hence, these increases were significantly higher than the year-on-year rises in consumer prices, which ranged between 1% and 0.0% during the first six months of 2009.

The statistical office said, in the first half of 2009, the trend towards long-term agreements and staggered increases continued. Thus, the new wage settlement negotiated in the construction industry covers a period of two years. As from June 2009 and April 2010, it provides for standard wage increases of 2.3% in the former territory of the Federal Republic and Berlin, while it provides for increases of 2.6% and 2.5%, respectively, in the new Länder.

Many of the standard wage increases which became effective in Germany in the first half of 2009 were ranged between 2% and 3%, the Federal Statistical Office said Friday. (Market News Provided by RTTNews)