Economic news

Euro zone wages grow at their fastest pace in two years

Salaries in the euro area grew at their fastest rate in two years in the second quarter, according to data from Eurostat. The average hourly wage in 19 euro zone countries rose by 2% in April-June year-on-year.

This may be a signal that inflation in the region is moving towards the European Central Bank target - close to but under 2 percent.

The extended wage growth in the euro zone will increase the possibility that ECB will taper its assets purchases next year.

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