Wages, pensions and employment benefits to benefit from increase

Photo: Marc Wilwert

Statec, Luxembourg's official statistics bureau, has announced that workers in the country will see their wages increase by 2.5% through a new round of indexation.

Indexation is a means of keeping earnings in Luxembourg in line with inflation.

Each time it is triggered, wages and pensions are increased by 2.5%.

According to provisional results released by Statec, the annual inflation index stood at 1.5% in July, which, in turn, increased the average bi-annual index rate and triggered a new indexation.

The automatic indexation of wages, salaries and pensions will enter into force on 1 August.

In early July, Statec reported that inflation levels rose to 1.4%.

It has also previously said the next indexation would come between the second and third quarters of the year.

The final and detailed results of the national consumer price index for July will be published on 8 August, Statec said.