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Italian wages rise in May

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Italian wages rise in May

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Italian workers’ wages edged up in May.

They rose 1.3 percent from the same month last year. That compared with April’s 30-year low of a 1.2 percent rise.

Month-on-month salaries were up 0.1 percent in May after being unchanged in the previous two months.

With regard to purchasing power, annual wage inflation was still well above the consumer price inflation rate in May, which stood at 0.4 percent based on Italy’s EU-harmonised index.

In April Prime Minister Matteo Renzi cut taxes for low-income earners, to try to restart household spending in Italy.

The additional money in pay packets – known as ‘Renzi’s 80 euros payroll bonus’, drew both praise and criticism.

with Reuters