- Negotiated wage growth with smoothed one-off payments of 4.6% in 2024, and 3.2% in 2025.
- For the first half of 2026, the headline ECB wage tracker stands at 1.7% (down from 2.1% in the second half of 2025 and 4.3% in the first half of 2025).
Stable wage growth is a good thing for the ECB as it helps with keeping inflation stable around their target in absence of shocks.
Full report here
