STATEC Expects Q4 Wage Indexation; Inflation to Reach 3.4% in 2023, 4.8% in 2024

STATEC forecasts that inflation will rebound in 2024, driven primarily by energy costs aligning with real market prices. This anticipated increase is expected to trigger another wage indexation in the second quarter, continuing the trend of automatic adjustments seen throughout 2023 to mitigate the impact of rising living costs on households. Core inflation remains elevated above target levels due to persistent price hikes in food and industrial goods, largely stemming from delayed effects of previous energy crises. Although headline inflation has eased in the eurozone, the depreciation of purchasing power necessitates ongoing government intervention. Consequently, a new tripartite meeting will convene to manage the transition away from temporary stabilizing measures and address the financial implications of future wage adjustments. This report is highly relevant to open data initiatives as it demonstrates how public statistical institutions provide the transparent, accessible metrics required for effective policy-making. The linkage between published forecasts and subsequent government agreements highlights the necessity of reliable, publicly available data in fostering trust and enabling informed economic decisions by both citizens and policymakers.

Source: chronicle.lu
Published on 2023-02-09

STATEC Expects Q4 Wage Indexation; Inflation to Reach 3.4% in 2023, 4.8% in 2024

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