Pensioners to Get Inflation Top-up
Hungarian pensioners will get a 3.1% top-up to compensate for higher-than-expected inflation, Gergely Gulyás, the head of the Prime Minister's Office, said at a regular press briefing on Thursday, according to a report by state news wire MTI.
The measure will raise the average old-age pension to around HUF 217,000 a month, Gulyás said. Pensioners will get an extra HUF 78,000, on average, in November, when the top-up is paid with retroactive effect from the start of the year, he added.
He noted that pensions had been raised by 15% in January to preserve purchasing power, while the National Bank of Hungary (MNB) now estimated annual average inflation, calculated using a basket of goods and services used by pensioners, would reach 18.5%.
The pension top-up will cost the budget HUF 190 bln, he said.
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