In May 2025, negotiated wages increased by 5.7 % y-o-y, following + 5.8 % in the previous month. In retail and wholesale trade, the second stage of permanent negotiated wage increases under the current collective wage agreements entered into force. As the first stage was less than 12 months ago, the increase here has a temporary strong impact on the year-on-year rate. Negative base effects stemming from permanent pay hikes in May 2024 (mainly metal industry) dampened the annual growth rate.

Base wages (excluding one-off and special payments) were 6.5 % higher in May than in the previous year, compared to 7.1 % in April.

In the services sector, negotiated wages were increased significantly more (+7.3 % y-o-y) than in the manufacturing industry (+2.8 %).