Hourly wages in France increased by 2.5% year over year in the second quarter in the non-agricultural market (excluding services to households), according to a report by Insee, the National Institute of Statistics and Economic Studies in France.

That’s lower than the 2.9% increase in the first quarter, according to Insee. It’s also lower than the 5.3% increase — the peak — which occurred at the end of 2022.

The second-quarter slowdown was mainly due to the decline in inflation.

Hourly wages rose by 3.0% year over year in the second quarter for industry. Construction hourly wages rose by 1.9%, and services hourly wages rose by 2.3%.

Compared to the first quarter, hourly wages were up 0.3% in the second quarter.

Insee also looked at changes in hourly costs for employers in the second quarter and found that they were up 2.7% year over year.