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Hungarian annual gross wage growth picked up in September, suggesting rising inflationary pressures, but the growth still came in below analysts’ expectations, data released by the central statistics office (KSH) showed Friday.
Gross wages rose 8.6% in September from a year earlier, after an increase of 7.8% in August. Nine analysts polled by Dow Jones Newswires prior to the data release had forecast the September reading at 9.2%. Real or inflation-adjusted wages fell 5.6% in the first nine months of the year after a decline of 6.3% in the first eight months of 2007, while inflation was 8.3% in the January-September period. (fxstreet)