Real wages in Italy will still be two percentage points lower in 2027 than in 2021, the Parliamentary Budget Office (UPB) said Wednesday.

"The recovery in household purchasing power, observed starting in 2023, is expected to continue at a moderate pace in the two-year period 2026-27, so real wages are expected to be more than two percentage points lower at the end of the period than in 2021," the Office wrote in its February economic report.