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Gross wage growth slows, regular wage rise picks up in April

Gross wages in Hungary rose 2.5% in the twelve months to April after a 2.7% rise in March, the Central Statistics Office (KSH) said on Tuesday. The growth of regular wages, excluding one-off premiums and bonuses, picked up, to 4.6% yr/yr.

January-April gross wages rose 3.9%, of which regular wages rose 5.8% yr/yr.

April net wages were down 0.2pc in twelve months after no change in March. January-April net wages were up 1.1% yr/yr.

Hungarians' average gross monthly wage came to HUF 219,955 in April, including HUF 206,064 in regular wages. The net wage, excluding family allowances, averaged HUF 142,211.

The rise of business sector gross wages accelarated to 6.5% in the twelve months to April.

Public sector gross wages fell 7.3% yr/yr in April, with most of the fall reflecting the public work schemes, where the gross wage of full-time employed was down 9.8% yr/yr. Excluding their wages, gross public sector wages fell 1.1% yr/yr in April.