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The ECB's wage tracker shows wage growth at 2.7% in the first half of 2027, signaling a moderate rise in negotiated wage growth.
The European Central Bank's (ECB) wage tracker data shows that wage pressures covered by active collective bargaining agreements, smoothed for one-off payments, were 2.2% in 2026. The overall wage tracker indicator for Q1 and Q2 2027 stood at 2.7% and 2.8% respectively. The ECB noted that the forward-looking data from the wage tracker should not be interpreted as a forecast, as it only captures currently available collective bargaining agreement information.
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