UK markets closed
  • FTSE 100

    7,389.98
    +87.24 (+1.19%)
     
  • FTSE 250

    19,835.95
    +146.93 (+0.75%)
     
  • AIM

    956.64
    +9.47 (+1.00%)
     
  • GBP/EUR

    1.1822
    +0.0040 (+0.34%)
     
  • GBP/USD

    1.2495
    +0.0020 (+0.16%)
     
  • BTC-GBP

    24,183.96
    +651.65 (+2.77%)
     
  • CMC Crypto 200

    650.34
    -23.03 (-3.42%)
     
  • S&P 500

    3,901.36
    +0.57 (+0.01%)
     
  • DOW

    31,261.90
    +8.77 (+0.03%)
     
  • CRUDE OIL

    112.70
    +0.49 (+0.44%)
     
  • GOLD FUTURES

    1,845.10
    +3.90 (+0.21%)
     
  • NIKKEI 225

    26,739.03
    +336.19 (+1.27%)
     
  • HANG SENG

    20,717.24
    +596.56 (+2.96%)
     
  • DAX

    13,981.91
    +99.61 (+0.72%)
     
  • CAC 40

    6,285.24
    +12.53 (+0.20%)
     

Spanish retailer Mercadona raises all salaries by 2021 inflation rate

·1-min read
The logo of Mercadona, the leader in the retail industry in Spain, hangs outside one of its supermarkets in Madrid

MADRID (Reuters) - Privately owned Mercadona supermarket chain, Spain's largest retailer by revenue, will raise the wages of all employees by 6.5% to match the country's annual inflation rate last year, it said on Friday.

Mercadona's move is in an effort to protect the purchasing power of its 93,000 employees, the company said in a news release.

The lowest wage at the supermarket chain in 2022 will be 1,425 euros ($1,614.95) a month, 87 euros more than in 2021, the company said, and 440 euros more than the country's legal minimum wage.

Spain's annual inflation rate rose to a three-decade high of 6.5% as a result of higher energy prices and supply chain disruptions feeding through to other consumer prices.

The head of Spain's central bank, Pablo Hernandez de Cos, has recently said that inflation would remain high in the early months of 2022 but would gradually fall in the second half of the year, provided higher costs of living do not translate into broad wage increases.

($1 = 0.8824 euros)

(Reporting by Inti Landauro; Editing by David Goodman)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting