CPI to surpass wage growth in 2013, survey suggests
Hungarian companies plans to wage raises 3.2% on average this year, under projected annual average inflation of 3.5%, a survey by consulting company Hay Group Magyarország shows. Last year, companies raised wages about 3.3%, well under the 5.7% rate of inflation. One-fifth of companies have no plans to raise wages this year, according to the survey of almost 500 businesses. In January-November 2012, average gross wages at companies with at least five employees rose 7.2% year-on-year, the latest data from the Central Statistics Office (KSH) show. Excluding the effect of family tax allowance, wages were up 4.2%.
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