Lower increases in the salaries of the eurozone countries is noted by the European Central Bank (EKT) Observatory.

According to ECB data, which cover about 47% of eurozone employees, wage increases are limited to 3.2% from 4.6% in 2024 this year. If the various lump sums are taken into account, the increases are increased for year at 2.9% from 4.8% last year.

In more detail:

– The wage index of the European Central Bank (ECB), which covers only active collective agreements, shows that the increase in wages it has negotiated, with normal lump sum payments, will be 4.6 % in 2024 (based on an average coverage of 49.6 % of the employees in the participating countries (47 %).

– The ECB’s wage index with non -normal lump sum payments shows average level of negotiating wage growth of 4.8% in 2024 and 2.9% in 2025.

The downward dynamics of the wage index according to the ECB, partly reflects the engineer Impact of large lump sum payments (paid in 2024 but will not be paid in 2025) and the advanced nature of wage increases in certain sectors in 2024. The wage index without one -off payments shows an increase of 4.1% in 2024 and 3.8% in 2025.

For the first quarter of 2026, the ECB’s wage index is 1.7% (from 1.8% in the fourth quarter of 2025 and 4.6% in the first quarter of 2025), the ECB’s wage index with non -normal lump sum payments is at 2.5% (from 3.0% in the fourth quarter of 2025 and 2025 in the same quarter of 2025) and 20 ECB wage index without one -off payments are 2.6% (from 3.1% in the fourth quarter of 2025 and 4.4% in the first quarter of 2025).

Indications for the ECB’s wage index for the first quarter of 2026 are expected to become more complete with the signing of new collective agreements.

Since the previous publication of data in June 2025, the ECB’s wage index has been expanded to include collective agreements in Belgium (retroactively from January 2021 onwards). The forecast horizon has also expanded to the end of March 2026.