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Hungary’s real wages up 7.5% in January

Along with the 2.3% rise in consumer prices in January, compared to the same month a year earlier, real earnings In Hungary increased by 7.5%, according to a first release of data put out this morning by the Central Statistical Office (KSH). 

Both gross earnings and net earnings grew by 10% in January, while regular gross earnings (gross earnings without premiums and one-month bonus) increased by 10.3%. Wages and salaries according to the SNA concept were 10.7% higher than in 2016, KSH reported.

The rise in the minimum wage and the guaranteed minimum wage of 15% and 25%, respectively, as well as salary adjustment in new areas of the public sector – affecting among others those working in health and cultural fields – had an impact on earnings growth, according KSH.