Preliminary data for the first quarter of 2026 indicates a smaller and more stable wage growth, according to information released today by the European Central Bank (ECB).
Wage growth negotiated in collective agreements is expected to be 3.2% in 2025 (compared to 4.7% in 2024 and an average of 2% from 2013 to 2023), based on the wage agreements signed by early October this year.
Subsequently, this growth is projected to decrease to 1.8% in the first and second quarters of 2026 and to rise again to 2.2% in the third quarter of 2026.
The ECB considers wage increases significantly when determining monetary policy due to their impact on inflation.
