www.ecb.europa.eu
23 March 2026
- ECB wage tracker updated with wage agreements signed up to end-February 2026; forward-looking horizon remains unchanged at end-December 2026
- Available forward-looking information indicates negotiated wage growth will stabilise at around 2.6% by the end of 2026
- ECB wage tracker with unsmoothed one-off payments at 3.0% in 2025 and 2.6% in 2026
The European Central Bank (ECB) wage tracker, which covers active collective bargaining agreements, indicates negotiated wage growth with smoothed one-off payments of 3.2% in 2025 (based on a coverage of 50.7% of employees in participating countries) and 2.3% in 2026 (based on a coverage of 39.7%). Coverage gradually declines over the forward-looking horizon as agreements are still being signed in 2026.
Compared with the February 2026 data release, the ECB wage tracker with smoothed one-off payments has been revised down by 0.1 percentage points for 2026. The ECB wage tracker with unsmoothed one-off payments indicates negotiated wage…