Eurostat: Hungarians earn less, spend less, pay less
pixabay
The GDP per capita, average consumption and consumer prices of food and beverages in Hungary are below the European Union average, a report by Eurostat shows. According to Eurostat data finalized yesterday, minimum wages in Hungary still lag behind other EU members.
The report said Hungary’s GDP per capita was 68% of the EU average while its actual individual consumption (AIC) was 62% of the average, in the lowest quarter of EU countries.
The price of food and non-alcoholic beverages in Hungary is 79% of the average for the European Union, the report says, according to Hungarian news agency MTI.
The price of bread and cereals in Hungary is 72% of the EU average, while the price of meat is 71% of the average, MTI reported, adding that prices for milk, cheese and eggs are 87% of the average.
The prices of alcoholic beverages and tobacco are 74% and 60%, respectively, of the EU average, the Eurostat data show.
Eurostat data for 2015 suggest that the minimum wage in Hungary is €332.76 per month, which is around the average in the region, but lags behind to the frontrunners of the EU.
Considering the V4 countries: in the Czech Republic the monthly minimum wage is €331.71, in Slovakia it is €380, and in Poland it is €409.53. Considering the neighboring countries of Hungary: Romaniaʼs monthly minimum wage is €217.5, Croatiaʼs is €395.61, Serbiaʼs is €235.04 and Sloveniaʼs is €790.3, while Eurostat offers no data for Austria.
According to Eurostat data the forerunner in minimum wages per month is Luxembourg with €1,922.96, followed by Belgiumʼs and the Netherlandʼs €1,501.8, respectively. Germany, Ireland, France and the United Kingdom follow the leaders close with monthly minimum wages of €1,473, €1,461.85, €1,457.52 and €1,378.87, respectively. In the United States, minimum wage per month is €1,035.06, according to Eurostat data.
Richter Shareholders Approve HUF 423/Share Dividend
Liz & Chain Rooftop Bar Debuts Sustainable Cocktails
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
