The loss of spending power last year was driven by soaring inflation, official statistics show Real earnings in Germany decreased by an average of 4.1% in 2022 compared with a year earlier, according to preliminary data from the statistics agency Destatis released on Tuesday. A drop in real earnings refers to a situation where wage increases are unable to keep up with rising inflation, thus reducing spending power. Last year was the third consecutive year in which real wages declined. “High inflation has led to the largest loss in real earnings for employees since the beginning of the time series in 2008,” Destati
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