SCOTTSDALE, Ariz. (AP) — The major league minimum salary will rise to $563,500 next season, a hike of $8,500.

Under Major League Baseball’s collective bargaining agreement with the players’ association, the minimum was $535,000 in 2017, $545,000 in 2018 and $555,000 this year. In the final two seasons of the five-year deal, the increase is calculated as the rise from October to October in the Consumer Price Index for Urban Wage Earners and Clerical Workers. The October 2019 figure was announced Wednesday by the U.S. Bureau of Labor Statistics.

The minor league minimum for a player signing his first major league contract increases from $45,300 to $46,000, and the minor league minimum for a player signing a second or later major league contract goes up from $90,400 to $91,800.