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Hungary's gross wages rise slows to 2.5%

Gross wages rose 2.5% in the twelve months to May 2009 and net wages were up 1.9%, the Central Statistics Office (KSH) said on Thursday.

Gross wages rose 4.3% at businesses in the twelve months to May and dropped 1.8% yr/yr in the public sector.

January-May 2009 gross wages rose 1.4% and net wages increased 1.0% from a year earlier. Gross wages rose 4.8% in the business sector in January-May from the same period last year, and fell 6.4% 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 3.8% in May and 3.2% in January-May, real wages fell 1.8% yr/yr in May and fell 2.1% yr/yr in the first five months. (MTI-ECONEWS)