Eurozone labour costs rise above forecasts, sharpening focus on ECB rate path - VT Markets

The content here might not be relevant fo you. Would you like to visit the North America website? The Eurozone Labour Cost Index rose 3.1% in the second quarter, coming in above the 3% consensus estimate. The reading points to firmer wage and salary pressures across the currency bloc over the period. The data will feed into assessments of domestic inflation persistence, particularly in labour-intensive services. Policymakers and markets are likely to weigh whether the surprise versus expectations alters the near-term balance of risks for price stability. The unexpected rise in the Eurozone Labor Cost Index to 3.1% in the second quarter shows that wage pressures remain stubborn.