The first nationwide minimum wage in France was introduced via the Interprofessional Guaranteed Minimum Wage ("SMIG" – "Salaire minimum interprofessionnel garanti") law, passed in 1950 and accompanied by a High Commission for Collective Agreements (to set the wages based on average cost of living) and a companion law known as "SMAG" for rural/agricultural occupations. The SMIG, which established one baseline hourly wage rate for the Paris region and one for the rest of the country, was indexed to price inflation but rose more slowly than average wages. It was replaced by ("SMIC" – "salaire minimum de croissance") in 1970, which remains the basis of the modern minimum wage law in France.