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Euro zone wage rises becoming more and more permanent: ECB's Draghi

Kitco News

DUBLIN (Reuters) - Nominal wage growth, the best predictor of inflation in the euro zone, is gradually improving and increasing so as a result of permanent features, the head of the European Central Bank said on Thursday.

“Recent data, the last say six to 12 months’ data, shows that wages are gradually going up. They’re going up now because of temporary effects but more and more because of permanent effects,” Mario Draghi told an Irish parliamentary committee.

Reporting by Padraic Halpin; Editing by Balazs Koranyi

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