Germany negotiated pay rates index, monthly
Germany negotiated pay rates index, monthly stood at 148.6 in Jul 2026, according to Deutsche Bundesbank. It is one of the indicators in the Negotiated wages table (Value · Monthly), with a complete series running from Jan 1991 to Jul 2026. The complete series with an interactive chart, free to download.
This indicator in the Negotiated wages table
| Indicator | 07-2026 | 06-2026 | 05-2026 | 04-2026 | 03-2026 | 02-2026 | 01-2026 | 12-2025 | 11-2025 | 10-2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Overall economy | |||||||||||
| Pay rates, overall economy, on a monthly | 148.6 | 112.8 | 113.2 | 113 | 111 | 114.7 | 111 | 112.4 | 167.2 | 110.4 | |
| Pay rates, overall economy, on an hourly | 149 | 113.1 | 113.5 | 113.2 | 111.3 | 115 | 111.3 | 112.6 | 167.5 | 110.6 |
Understanding germany negotiated pay rates index, monthly
Tracks the aggregated monthly remuneration agreed upon through collective bargaining across the entire German labor market. This specific index bundles basic salaries with regularly recurring supplementary benefits and irregular one-off bonuses into a single monthly metric. Unlike the hourly equivalent, this series does not account for changes in agreed working time, meaning shifts in weekly hours will not necessarily move the index unless the total monthly paycheck changes. It aggregates agreements from all organized sectors, offering a broad picture of total collective pay rather than filtering out specific payment types or focusing on individual industries.
Assessing this index demands year-on-year comparisons to filter out the severe distortions introduced by lump-sum distributions, which tend to cluster in specific months according to the collective bargaining calendar. Base-year updates to Index 2020=100 periodically shift the weighting of various sectors to reflect modern employment structures, meaning long-term comparisons must account for these structural adjustments. Revisions are common when major union deals apply retroactively, forcing past monthly figures to be updated long after their initial publication. Analysts contrasting this metric against actual earnings must remember that negotiated rates exclude voluntary company premiums and wage drift, representing only the agreed minimums rather than true take-home pay.
Frequently asked questions
- Does this index account for reductions in agreed weekly working hours?
- No, since the metric tracks total monthly compensation, a reduction in working hours without a change in monthly pay leaves the index unchanged.
- Are inflation-compensation bonuses captured in this indicator?
- Yes, any tax-free inflation bonuses or irregular lump sums agreed upon in collective bargaining are fully incorporated into the index values.
- Why might this measure diverge from national accounts wage data?
- This series strictly tracks collectively agreed compensation floors and ignores wage drift, voluntary employer bonuses, and the pay of unorganized workers.