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, %|
|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%.
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.