More than 500,000 employees in Belgium will see their salaries rise by 11.08% on 1 January 2023, according to a calculation by HR service provider Acerta, published on Friday.
Employees who fall under the CP200, a joint commission that regulates remuneration and working conditions for certain categories of workers, have their wages adjusted to the cost of living at the beginning of each year.
For these employees, who number over half a million, the wage indexation for 1 January 2023 is historically high, much higher than the 1 January 2022 rate, which was 3.58%.
In fact, since the introduction of annual indexations in January of each year, 11.08% is the highest rate for the CP200 sector.
In addition to the CP 200 companies, other sectors have an indexation system that provides for the annual adjustment of wages to inflation at the beginning of each year.
Come January, workers in the food industry can expect to earn 10.96% more, and the same goes for those in road transport and logistics, and the hospitality sector.
Wages in the food trade will go up by 11.08%. Insurance workers will earn 11.19% more, and wages in real estate will be 11.08% higher, to cite a few examples.
The rates are a result of high inflation in 2022, when the pivot index was exceeded five times. According to the Planning Bureau’s outlook for 2023, the first overrun of the index is expected in April.
