The real wage index in Germany rose for the third consecutive quarter and at the fastest pace in more than three years, during the three months to September, figures from Destatis showed Monday.
Real wages climbed 1.8 percent year-on-year in the third quarter, faster than 1.5 percent rise in the previous three months. The latest rate of growth was the highest since the second quarter of 2011, when it increased 1.9 percent.
Meanwhile, the nominal wage index rose 2.6 percent annually in the three-month period to September, same as in the previous quarter. In the first quarter, wages climbed 2.8 percent.
Consumer prices inflation was 0.8 percent in the third quarter.
Employees in the banking and insurance sector received the highest wages during the third quarter, while the lowest earnings were in the hospitality sector.
The material has been provided by InstaForex Company – www.instaforex.com