In 2024, the national minimum wage in Latvia remained fixed at €700 per month, that is 8,400 euros per year, taking into account 12 payments per year.
Accordingly the national minimum wage has been raised 80 Euros per month from the previous year, 12.9%. This increase is greater than the CPI of 2023 which was 0.6%, so workers have gained buying power in the last year.
If we look at the ranking of the national minimum wage that we publish, Latvia is in 38 nd place, so it is among the countries with the lowest minimum salary of the 120 of the list.
The National Minimum Wage (NMW) of a country is the minimum amount (lowest salary) per hour, per day, or per month that employers may legally pay to workers.
In the table that follows we show you the progression of the National Minimum Wage Latvia. You can see NMW in other countries in National Minimum Wage 2024 and see all the information about this country in Latvia economy.