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Europe’s Workers Brace for Tough Times as Real Wages Fall

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Europeans are likely to see real wages fall faster than their U.S. counterparts, as Russia’s invasion of Ukraine sends inflation on a fresh surge, threatening to push the continent into recession.Until the invasion, European inflation rates looked set to remain below their U.S.

equivalent, reflecting a slower economic recovery from the Covid-19 pandemic. This changed after the war started, sending food and energy prices surging in Europe.

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