Italy unions demand Stellantis, Ferrari wage rise of 8.4% for 2023

 Italian unions representing workers at Stellantis, Ferrari, Iveco and CNH Industrial will on Monday ask for a wage increase of 8.4% to be paid in 2023 to counter rising inflation, a senior union source told Reuters.

Europe's cost-of-living crisis is putting upward pressure on wage inflation as companies across the continent face demands from workers to cushion the impact of rising prices. Consumer prices rose 8.9% year on year in Italy in September.

The request for salary increases is part of official talks starting on Monday between metal workers unions FIM-CISL, UILM, Fismic, UGLM and AQCF and the four industrial groups.

The talks focus on new four-year contracts for most of their Italian employees. The current contracts expire at the end of this year.

They affect almost 70,000 workers in Italy, two thirds of them at the former Fiat-Chrysler, which last year merged with France's PSA to create Stellantis.