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Gross wage growth accelerates to 6.5% yr/yr in August

In Hungary

Gross wages in Hungary rose 6.5% in August from the same month a year earlier, the Central Statistics Office (KSH) said.

Wage growth accelerated from a 6.2% increase in July.

Gross wages rose 5.4% in twelve months in the business sector, rising over the 3.4% twelve-month rise in July, and public sector gross wages were up 8.0% in the year to August as the yr/yr rise slowed from 12.9% in July.

Net wages rose 6.8% in August, the same as they rose in July. Net wages rose 7.2% in the business sector and were up 4.9% in the public sector.

January-August gross wages rose 4.3%, including 5% higher wages in the business sector and 1.6% higher wages in the public sector.

Net wages rose over twelve-month inflation of 3.6% in August and 3.9% in the first eight months.

Public sector wages include the wages of those employed in public work schemes.

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