InsiderEconomyRising prices still affect salaries

Rising prices still affect salaries

The rising prices of electricity and fuel maintain an unprecedented wave of expensiveness, with the prices of main products skyrocketing every month, emptying the wallets of consumers.

Inflation in May 2022 jumped to 9.1% (the highest since the beginning of 1980) from 8.8% in April and 7.13% in March.

The biggest price changes were in electricity (+40.9%), petroleum (+37%), and agricultural products (+10.9%).

Furthermore, the Euro area annual inflation that was announced on Tuesday was 8.8% in May 2022, up from 7.4% in April according to Eurostat, the statistical office of the European Union.

It is crystal-clear that low and medium salaries cannot last the increases of prices of meat, bread and other main products that a family needs, endangering a decent way of life. People getting 1,000 euros as salary or pension, in fact receive 910 euros if we deduct inflation, and with prices skyrocketing it is very difficult to make ends meet.

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