LONDON (Reuters) – German metalworkers’ recent demand for an 8.2% pay rise may be a sign that a wage-price spiral, the missing component in European inflation, is about to kick in, Deutsche Bank said on Tuesday. The bank said that a demand by IG Metall’s union for an 8.2% pay increase over 12 months for 76,000 steel industry workers was above anything seen in recent years. It noted that while in normal times, wage settlements tend to be around 50% of unions’ initial claim, “these are not normal times” given surging inflation. German inflation hit an annual 7.8% in April, the highest in more th…