Soaring inflation set to dent salary hikes for second year: Survey

The worst-hit region is likely to be Europe, where real salaries - nominal wage growth minus the rate of inflation - are seen being driven down an average 1.5 per cent

salary
Premium

Asian nations make up eight of the top 10 countries forecast to see real salaries rise, led by India, up 4.6 per cent, Vietnam rising 4.0 per cent and China up 3.8 per cent.

Alex Millson | Bloomberg
Towering inflation will drive down the wage jump yet again, according to a new survey that sees just 37 per cent of countries globally expecting to report real-term wage hikes.
 
The worst-hit region is likely to be Europe, where real salaries — nominal wage growth minus the rate of inflation — are seen being driven down an average 1.5 per cent, according to workforce consultancy ECA International.
 
UK employees suffered their biggest hit this year, since the survey kicked off in 2000. Despite a 3.5 per cent average nominal pay increase, salaries in real terms fell 5.6 per cent, due

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Oct 26 2022 | 11:39 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com