The wage index in February 2013 is 449.4 points, 2.3% higher than in the previous month. In the last twelve months the monthly wage index has risen by 5.2%.
| Wage Index 2012-2013 | |||||
| December 1988=100 | Change from previous month, % | Annual rate based on the change in the last | |||
| Index | 3 months, % | 6 months, % | 12 months, % | ||
| 2012 | |||||
| January | 418.2 | 0.0 | 2.4 | 4.5 | 9.1 |
| February | 427.1 | 2.1 | 10.2 | 8.7 | 11.3 |
| March | 431.7 | 1.1 | 13.6 | 9.4 | 12.1 |
| April | 431.4 | -0.1 | 13.2 | 7.7 | 11.9 |
| May | 432.9 | 0.4 | 5.5 | 7.8 | 11.0 |
| June | 433.1 | 0.0 | 1.3 | 7.3 | 6.9 |
| July | 433.5 | 0.1 | 2.0 | 7.5 | 6.0 |
| August | 433.7 | 0.1 | 0.7 | 3.1 | 5.9 |
| September | 436.3 | 0.6 | 3.0 | 2.1 | 5.7 |
| October | 436.8 | 0.1 | 3.1 | 2.5 | 5.1 |
| November | 437.7 | 0.2 | 3.7 | 2.2 | 5.0 |
| December | 437.7 | 0.0 | 1.3 | 2.1 | 4.7 |
| 2013 | |||||
| January | 439.2 | 0.3 | 2.2 | 2.6 | 5.0 |
| February | 449.4 | 2.3 | 11.1 | 7.4 | 5.2 |
| Notes: Wage index is calculated and published according to law no 89/1989. The wage index is based on regular hours earnings each month, calculated and published in the month following calculation. | |||||
Real wages increased by 0.7% from the previous month
The real wage index in February is 112.5 points, 0.7% higher than in the previous month. In the last twelve months the real wage index has increased by 0.4%.
Collective agreements
The collective agreement between the Confederation of Icelandic Employers and the Icelandic Confederation of Labour (on behalf of its member unions), signed May 2011, stipulates a general wage rise of 3.25 % in February 2013.