Real wages could still increase 4% despite inflation

Figures

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According to the leading analyst of Magyar Bankholding, even taking strong inflation into account, annual real wages may increase by more than 4% in 2022, writes hrportal.hu.

Thanks to the mid-year wage increases that try to keep up with inflation, even taking into account the expected strong inflation, real wages may continue to grow in the second half of the year, but if they lag behind or become moderate, then the real wage index may fall into the negative range.

According to the report of the Central Statistical Office (KSH), the gross average salary in May was HUF 495,900, 14.9% higher than a year earlier, and the net average salary, calculated taking discounts into account, rose by 15.6% to HUF 342,000.

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