Real wages in Hungary up 9.2% in Jan-April

Telco

Along with a 2.5% rise in consumer prices compared to the corresponding period of the previous year, real earnings in Hungary increased by 9.2% in the January-April period, according to a first release of data by the Central Statistical Office (KSH) this morning.

Average net earnings by the national concept were HUF 201,500 excluding family tax benefits, and HUF 209,300 including such benefits in April, according to KSH data. Both gross earnings and net earnings grew by 14.6% in April, compared to the same month of the previous year. Rises of 15% in the minimum wage and 25% in the guaranteed minimum wage boosted earnings growth, according to the KSH.

In the first four months of the year, average net earnings – excluding family tax benefits – were HUF 191,000 by the national concept. Taking into account family tax benefits, average net earnings are estimated at HUF 198,800, according to the KSH.

In the January-April period, both gross earnings and net earnings grew to the same extent, by 11.9% over one year. Regular gross earnings (gross earnings without premiums and one-month bonus) increased more than average gross earnings, by 12.1%, while wages and salaries according to the SNA concept were 11.7% higher than a year earlier, the KSH reported.

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