The eurozone’s collective wage growth has slowed for the first time in 18 months, but economists said the decline was unlikely to be enough to ease rate-setters’ concerns over high inflation.
Data released by the European Central Bank on Tuesday showed annual rises in collectively negotiated pay for workers in the bloc increased 4.5 per cent in the last three months of 2023, compared with 4.7 per cent in the previous quarter.
The first slowdown in the figure since the second quarter of 2022 comes after ECB policymakers said they wanted clear evidence of wage pressures moderating and not being passed on via higher prices before they would consider cutting interest rates.
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