www.ecb.europa.eu
6 May 2026
- ECB wage tracker updated with wage agreements signed up to middle of April 2026; forward-looking horizon remains unchanged at end-December 2026
- Forward-looking information is broadly unrevised and indicates stable negotiated wage growth 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 51.3% of employees in participating countries) and 2.3% in 2026 (based on a coverage of 41.9%).
Compared with the March 2026 data release, the ECB wage tracker with smoothed one-off payments is unrevised for 2026. The ECB wage tracker with unsmoothed one-off payments indicates negotiated wage growth of 3.0% in 2025 and 2.6% in 2026. The wage tracker excluding one-off payments indicates an easing of negotiated wage growth from 3.8%…