Soaring inflation set to dent salary hikes for second year: Survey

Towering inflation will drive down the wage jump yet again, according to a new survey that sees just 37 per cent of countries globally expecting to report real-term wage hikes.
 

The worst-hit region is likely to be Europe, where real salaries — nominal wage growth minus the rate of inflation — are seen being driven down an average 1.5 per cent, according to workforce consultancy ECA International.
 

UK employees suffered their biggest hit this year, since the survey kicked off in 2000. Despite a 3.5 per cent average nominal pay increase, salaries in real terms fell 5.6 per cent, due