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April wage rise bigger than expected, say analysts

Gross wages in Hungary rose faster than expected in April, analysts said on Friday.

Gross wages rose 5.9% in April from the same month a year earlier, the Central Statistics Office (KSH) said early Friday. The rise was well over analysts' 4% consensus.

Takarékbank senior analyst Gergely Suppan said the rise in April wages was a surprise, but added that the labor market could remain "lax" in the coming months and he did not expect an uptick in the rise of business sector wages.

Tamás Gerőcs of EQUILOR Befektetési also said the big increase in April was unexpected and could signal the start of an unwelcome trend. But he said the April data is unlikely to influence a decision by the National Bank of Hungary's rate-setters at a meeting on Monday.