Is Austria really in the middle of the wage-price spiral? – Business

2023-06-29 05:29:13

Vienna – It is an old custom in Austria: Politicians do not interfere in the wage negotiations of the social partners and also hold back with comments of all kinds. Finance Minister Magnus Brunner did not cross this line, but leaned quite far out of the window in a television interview. When asked in the ORF report regarding the high inflation figures in Austria – inflation was nine percent in May – Brunner said that one of the main reasons for the development was the high wage settlements in Austria. Then Brunner took off and said: “We are in the middle of a wage-price spiral.” He understands good wage agreements, but they shouldn’t be too high, otherwise inflation will continue to increase.

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