Follow CBSDFW.COM: Facebook | Twitter

NEW YORK (AP) – Major League Baseball’s minimum salary will remain at $507,500 next year because of a lack of inflation.

READ MORE: COVID-19 Booster Shot Not Yet FDA-Authorized, But Some Not Waiting

The sport’s collective bargaining agreement called for a cost-of-living adjustment based on the yearly increase through October of the Consumer Price Index for Urban Wage Earners and Clerical Workers, rounded to the nearest $500.

READ MORE: North Texas School Districts Grapple With Learning Loss And Keeping Teachers, Students From Getting COVID-19

The Bureau of Labor Statistics announced Tuesday that measure decreased over 12 months. Baseball’s labor contract said the 2016 minimum cannot be lower than the 2015 figure, and MLB and the players’ association confirmed the amounts Wednesday.

The minor league minimum for a player signing a second major league contract remains $82,700 and the minor league minimum for a player signing an initial big league contract stays at $41,400.

MORE NEWS: Dwindling Number Of 911 Call-Takers Has Fort Worth Looking For Solutions

(© Copyright 2015 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)