Italian unions on Monday demanded a wage rise of 8.4 per cent in 2023 to offset rising inflation as they prepare for official talks with industrial groups Stellantis, Ferrari, Iveco and CNH Industrial.

The unions are preparing to negotiate new four-year contracts to replace ones that expire at the end of 2022. They cover 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.

Labour representatives were also demanding wage increases of 4.5 per cent for 2024 and 2.5 per cent for 2025, the FIM-CISL, UILM, Fismic, UGLM and AQCF unions said in a joint statement, adding that reliable inflation estimates were not yet available for 2026.

Mr. Gianluca Ficco of the UILM union said that requests would change if inflation estimates change.

We need to start talks as soon as possible to achieve a timely contract renewal, Mr. Ficco said, presenting the proposal to union delegates in Rome, who will have to approve them in the next two weeks.

Spokespeople for Stellantis and Iveco said they would not make any comment until unions have filed a formal request, in coming days or weeks.

Stellantis, whose brands include Fiat, Peugeot, Jeep, Alfa Romeo and Opel, said last month it would provide a one-off bonus worth up to 1,400 euros to most of its employees in France to help them cope with surging inflation.

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 per cent year on year in Italy in September.