ECB: Euro area’s Negotiated Wages rise 2.95% YoY in Q4 vs. 1.89% in Q3

FXStreetFeb 20, 2026 10:05 AM

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On Friday, the European Central Bank (ECB) released its indicator of the Euro area’s Negotiated Wage Rates data for the fourth quarter (Q4) of 2025.

Data showed that the Euro area Negotiated Wages rose by 2.95% year-on-year (YoY) in Q4 after increasing by a revised 1.89% in the previous quarter.

Market reaction to the EU Negotiated Wages data

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About ECB indicator of Negotiated Wage growth

The ECB indicator of negotiated wage growth is computed for a subset of countries only. The euro area aggregate is based on nine countries: Germany, France, Italy, Spain, the Netherlands, Belgium, Finland, Austria and Portugal. The indicator relies on data for negotiated monthly earnings. The euro area indicator is based on a mixture of monthly and quarterly time series and is based on non-harmonised country data.

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