Wage Increases Well Below Inflation

January 15, 2013

The Consumer Price Index (CPI) rose by 0.1 per cent in the Canary Islands during December, bringing the annual rate to 2.9 per cent.

The annual figure has traditionally been important to some workers whose salary increases are linked to inflation.

However, the worsening financial situation appears to have blown many of those agreements out of the water with unions complaining that average increases are coming out at around 1.3 per cent, well below the annual rate of inflation .