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Hungary's gross wages rise flat at 1.3%

Gross wages rose 1.3% and net wages were up 1.4% in the first seven months as compared to the same period of last year, the Central Statistical Office (KSH) said on Wednesday.

In H1 gross wages grew 1.3% and net wages added 1% year-on-year.

In the first seven months gross wages rose 4.9% at businesses and dropped 6.9% yr/yr in the public sector.

The fall in the public sector mostly reflected changes in the payment of annual bonuses.

Calculating with twelve-month inflation of 3.6% in the first seven months, real wages fell 2.1% year-on-year. In H1 real wages were 2.2% lower than a year ago.(MTI-ECONEWS)