In Latvia, the minimum wage will be increased, and along with it, prices for goods and services will rise - fueling inflation...
In 2026, the minimum wage in Latvia is planned to be increased by 40 euros - to 780 euros, according to a draft regulation developed by the Ministry of Welfare.
As reported, the non-taxable minimum will also increase by 40 euros next year - from 510 to 550 euros per month.
According to the Ministry of Welfare, last year the share of minimum wage recipients was the lowest in the past five years - 15.3%.
Data from the Central Statistical Bureau indicates that in 2024, an average of 117,895 people, or 15.3% of the workforce, received the minimum wage or less, which is 4.1 percentage points lower than three years ago when the share of such workers was 19.4%.
Overall, last year, 816,545 residents were employed in Latvia.
The Ministry of Welfare notes that increasing the minimum wage will enhance the purchasing power of low-income workers, positively affecting domestic demand. It will also contribute to leveling wages in the Baltic States and bringing wages in Latvia closer to the EU average, which is one of the tools for reducing migration flows.
