ECB’s Wage Tracker Signals Cooling Pay Pressures Into Next Year

Wage growth in the euro zone is set to slow sharply into the beginning of next year, adding to evidence that the European Central Bank has brought inflation back under control.

The ECB’s wage tracker, published Wednesday, predicts salaries will rise by an annual 1.7% in the first quarter of 2026. That’s well below a peak of 5.2% recorded at the end of 2024.