The salaries of the low-wage workers in Europe depreciated by 19% in 2022, the European Trade Union Confederation (ETUC) reported on Monday
MOSCOW (Pakistan Point News / Sputnik - 19th September, 2022) The salaries of the low-wage workers in Europe depreciated by 19% in 2022, the European Trade Union Confederation (ETUC) reported on Monday.
"Europe's lowest paid workers have seen the value of their wages fall by up to 19% this year," the ETUC said on Twitter.
The organization also recalled that, according to the European Statistical Office (Eurostat),the average price of bread in August in Europe increased by 18% year-on-year, while inflation in the region was about 10.1%. According to the statistical office, meat, vegetable cooking oils and fats have also become more expensive.
"Europe needs a pay rise - we want bread and roses too!" the ETUC noted.
The sharp rise in energy and food prices across the EU was caused by disruptions in supply chains due to Russia's special operation and subsequent comprehensive Western sanctions. Russia and Ukraine account for almost a third of the world's wheat and barley production and half of its sunflower oil. On July 22, Russia, Ukraine, and Turkey signed an UN-brokered initiative to provide a humanitarian maritime corridor for ships with food and fertilizer exports from Black Sea ports.