Hungariansʼ net earnings up 6.7% y-o-y in July

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Net monthly earnings in Hungary were up by 6.7% in July compared to the same month a year earlier, Hungary’s Central Statistical Office (KSH) reported today in a first release of data. Average net earnings at the national level were HUF 170,800, or HUF 178,000 including family tax benefits.

In July, average gross nominal earnings were up 5.1% compared to a year earlier, the KSH reports. Full-time employees thus earned a monthly HUF 256,900 on average at the national level, at corporations employing at least five persons, budgetary and designated non-profit institutions, KSH data show. 

In the January-July period, along with the 5.9% increase in gross earnings, net earnings grew by 7.5% due to changes in personal income tax rules, the KSH reports. Along with the 0.1% rise in consumer prices compared to the same period of the previous year, real earnings increased by 7.4%, the office notes.

Average gross nominal earnings of full-time employees in the January-July period amounted to HUF 257,900 at corporations employing at least five persons, budgetary and designated non-profit institutions. Average gross earnings were the highest in the finance and insurance sectors (HUF 526,200), and the lowest in healthcare and social services (HUF 149,400), KSH data reveal.

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