Iceland's wage index records 0.45% month

Iceland's wage index reported a month-on-month increase of 0.4 percent in July, according to statistics published by Statistic Iceland on Friday.
The statistics showed the wage index in July is 484.7, taking the wage in December 1988 as base number of 100, increasing by 0.4 percent compared with 482.7 in June. In the past 12 months, the wage index has increased by 5.9 percent.
The real wage index in July 2014 was 117.8, increasing by 0.6 percent compared with that in June. In the past 12 months, the real wage index has increased by 3.5 percent.
The indexes in July were affected mainly by agreements signed between some labor unions and the Ministry of Finance or the municipalities in the 2nd quarter of 2014.