1415 GMT - Eurozone wage growth will continue to keep inflation above the European Central Bank's 2% target this year, according to new estimates by Germany's Commerzbank. Negotiated wages rose 4.1% on year in the last quarter of 2024 in the 20-member currency area, slowing from 5.4% the previous quarter but still high relative to prepandemic salary growth, figures show Tuesday. "As companies are passing on high wages to consumers, consumer prices are also likely to continue to rise, particularly in the important services sector," Commerzbank's Vincent Stamer tells clients in a note. That means inflation will likely stay stubbornly above the ECB's target, despite some easing underyling price trends, he says.(joshua.kirby@wsj.com; @joshualeokirby)
(END) Dow Jones Newswires
February 25, 2025 09:15 ET (14:15 GMT)
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