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Hungary’s gross, net wages up 10.7% in February

Both gross and net earnings grew by 10.7% in February compared to the same month a year earlier, according to a first reading of data published today by the Central Statistical Office (KSH). The growth was attributed primarily to minimum wage rises and wage hikes in new areas of the public sphere.

The earnings growth was attributed primarily to rises in the minimum wage and guaranteed minimum wage of 15% and 25%, respectively, as well as to salary adjustments in new areas of the public sector – affecting those working in healthcare and cultural fields, among others, the KSH said in explaining the figures.

In February, average net monthly earnings by the national concept were HUF 182,700 excluding family tax benefits, and HUF 190,500 including such benefits.

In the January-February period, average net monthly earnings by the national concept amounted to HUF 182,400 excluding family tax benefits, and HUF 190,200 including such benefits. Both gross earnings and net earnings grew by 10.3% over one year.

Along with the 2.6% rise in consumer prices compared to the same two months of the previous year, real earnings increased by 7.5% in the first two months of the year. Regular gross earnings (gross earnings without premiums and one-month bonus) increased more than average gross earnings, by 10.7%.

Wages and salaries according to the SNA concept were 10.3% higher than a year earlier.