Wages grew 3.1% year-on-year in 2023, according to Istat. The marked deceleration in inflation during 2023 has reduced the distance between the price dynamics (HIPC), at +5.9%, and contractual wages to around three percentage points, less than the half of that observed in 2022.
The average wage grew by 3.2% compared to the previous year, Istat said on Monday. The inflation rate for the whole of 2023 was 2.9%.