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Global economy: Will higher wages prolong inflation?
Price growth remains stubbornly high and central bankers worry that pay settlements will keep it that way
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Members of the National Education Union striking over pay in Leeds, Britain, on Feb 28, 2023.
PHOTO: EPA-EFE
Delphine Strauss
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More than 340,000 Americans will see an increase in their monthly pay cheque on Thursday after Walmart, the biggest private-sector employer in the United States, raised its minimum hourly wage to US$14 (S$19). The retailer’s move will in effect set a new floor for pay in many US states.
On the other side of the Atlantic, as many as half a million United Kingdom public-sector workers have taken industrial action over pay
