Annual household income rose 9.2% to HUF 1.765 mln last year
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Annual net income per capita of households in Hungary rose 9.2% to HUF 1.765 million in 2020, according to preliminary data released by the Central Statistical Office (KSH).
Annual consumption expenditures per capita of households increased 2.8% to HUF 1.369 mln.
Households' basic expenditure ratio, showing spending on food and non-alcoholic beverages, housing, household energy, and transport, stood at 55.5%. Income from work accounted for 74.6% of household income.
Social income, such as family allowances, unemployment benefits, and pensions, made up 23.4%, and other revenue accounted for 2%. Pensions accounted for 81.3% of social income.
Annual net income per capita for the lowest decile of households stood at HUF 541,300 in 2020, and for the top decile, it reached HUF 4,117,900. The proportion of the income of the highest quintile of homes compared with the lowest quintile was 4.2.
Hungary's Gini coefficient, which shows the extent of income distribution, was 27.7%.
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