By Zee Johnson
In October of last year, the annual inflation in Belgium hit a 47-year high, reaching 12.27%, due to the rising cost of food and energy. Because of this, one million employees were slated to receive an automatic pay raise of 11.59% on January 1 of this year.
The country’s employee wages are linked to inflation by law so that their purchasing power remains the same. Along with Belgium, Luxembourg is the only other country in the European Union that has a wage indexing system.
On January 1st of 2022, employees saw a pay raise of 3%.