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Real wages up 5.5% yr/yr in January-May

Real monthly wages rose 5.5% year-on-year in January-May 2006, based on an 8.2% increase in net wages and an average twelve-month CPI of 2.6% during the period, the Central Statistics Office (KSH) announced on Tuesday.

Real wages rose 4.7% year-on-year in May, based on a 7.6% year-on-year rise in net wages and twelve-month CPI of 2.8% in May. Gross monthly wages rose 6.7% to Ft 166,349 (€594) in the twelve months to May, and net wages rose 7.6% to Ft 109,790 during the same period.
In January-May, gross monthly wages rose 7.3% year-on-year to Ft 168,710. Gross monthly wages in the private sector rose 6.2% year-on-year in May and 8.1% year-on-year in January-May to Ft 159,640 and Ft 154,623, respectively. Gross monthly public sector wages rose 8.5% year-on-year in May to Ft 183,756 and they increased 6.5% year-on-year in January-May to Ft 203,826.
Net monthly wages in the private sector stood at Ft 106,676 in May and Ft 104,150 in January-May, up 7.4% and 8.8%, respectively, from the same period last year. Average net monthly wages in the public sector were Ft 117,890 in May, up 8.7% year-on-year, and Ft 127,913 in January-May, up 7.5% year-on-year.
Real wages in the private sector rose 4.4% year-on-year in May and 6.0% year-on-year in January-May. In the public sector, real wages increased 5.7% year-on-year in May and were up 4.8% year-on-year in January-May.