By Joshua Manning • 19 July 2022 • 14:17
EU officials' salaries to be unaffected by Russian sanctions and inflation Credit: Drop Of Light/Shutterstock.com
An estimated 60,000 EU officials and employees will allegedly see their salaries unaffected by Russian sanctions and inflation rates, thanks to a salary increase of 8.5 per cent as reported by Bild.
Since 2013, EU officials have reportedly enjoyed an annual, automatic “updating” of salaries.
This salary system is meant to ensure that EU officials and MEPs do not suffer any salary losses due to increasing inflation rates.
Now that the EU has reported the inflation rates in Belgium and Luxembourg to be sitting at 9.4 per cent and 8.5 per cent, EU officials will se an increase in their salaries.
The final amount is still being debated by the EU commission.
The rate of inflation in Europe saw an increase of 9.6 per cent during the month of June with energy costs rising by 42 per cent when compared with June 2021.
On the fresh food side, inflation rates in Europe increased by 11.2 per cent from a year ago, the highest level ever recorded.
The European Commission stated:
“The EU economy, however, remained vulnerable to shocks in commodity markets. Inflation reached a new record high level in June 2022, continuing a sharp acceleration of energy and food prices.”
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Originally from the UK, Joshua is based on the Costa Blanca and is a web reporter for the Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]
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