In absolute terms, according to data released by the National Statistics Institute (INE), the average salary increased by 5.9%, to 1,438 euros, which is synonymous with a slowdown.

“The average total gross remuneration per worker increased by 5.9% to 1,438 euros, in the quarter ending in September, compared to the same period in 2022″, highlights INE, in the statistical highlight. Now, in the second quarter, the average salary had grown by 6.9%, which means that between July and September there was a slowdown.

On the other hand, the statistics office details that the regular component — which excludes the Christmas and holiday bonus and is therefore less seasonal — and the base component of the average salary increased by 6.2% and 6.6%, placing at 1,216 euros and 1,145 euros, respectively. And also in this case, there was a slowdown compared to the variations that had been recorded in the second quarter.

Regarding the impact of inflation on the Portuguese portfolio, INE says that, in real terms, the average total monthly gross remuneration grew by 2.4%, with the regular component increasing by 2.6% and the base component rising by 3%.

“This is the fifth consecutive month in which real increases in salaries have been recorded since November 2021”, highlights INE. Even so, in relation to the quarter ending in June 2023, there was a deceleration in real wages (from 2.6% to 2.4%).

Regarding the variation between sectors and employers of different sizes, the statistics office reports that the biggest increases were observed in “extractive industries” (9.5%), in companies with one to four workers (7.1%), in private sector (6.3%) and in “knowledge-intensive market services” companies (9.0%).