Changes in consumer prices

Consumer price trends for the whole of 2025 can be calculated on 7 January 2025, when the flash estimate for inflation in December will be published. Based on monthly figures for the first 11 months of 2025, average inflation for the year was 3.3 percent. Based on this method of calculation, real negotiated wage growth (i.e. adjusted for inflation) was 1.6 percent.

For the fourth quarter, the average increase in prices was 3.0 percent in the first two months of Q4. If we apply this same figure for the whole quarter, real negotiated wage growth was 1.6 percent.

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