Good Morning from #Germany where living standards fell 2nd year in a row. Real earnings dropped 0.1% in 2021 as nominal wages incl extra payments rose 3.1%, less than inflation of 3.2%. In 2020, nominal earnings declined 0.7%YoY, whereas CPI rose 0.5%, resulting in drop of 1.1%. h/t Holger Zschaepitz
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