Gross wage growth up at 6.1% yr/yr in October

Analysis

Gross wages in Hungary rose 6.1% yr/yr in October, the pace picked up from 5.2% in September, the Central Statistics Office (KSH) reported on Friday.

Gross wages rose 4.7% in twelve months in the business sector after the twelve-month rise slowed to 3.5% in September. Public sector gross wages were up 8.7% yr/yr, also faster than the 8.2% increase in September.

Excluding the wages of those employed in public work schemes, public sector wages rose 4.1% yr/yr in October after 3.1% in September.

The yr/yr increase of regular gross wages, excluding one-off items and bonuses, also accelerated, to 5.6% in October from 4.3% yr/yr in September.

Public sector regular wages rose 7.2% yr/yr and regular wages in the business sector rose 4.7% yr/yr.

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