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Real wages up 5.6% yr/yr in January-August

Real wages were up 7.1% year-on-year in August alone, Econews calculated, based on a 10.8% year-on-year rise in net wages and twelve-month CPI of 3.5% in August. Gross monthly wages rose 10.7% in twelve months to Ft 164,353 (€620) in August, and net wages rose 10.8% to Ft 108,874 during the same period. In the first eight months of 2006, gross monthly wages rose 7.8% year-on-year to Ft 167,229 and net monthly wages were up 8.5% at Ft 110,206. Total work income, including extra-wage benefits and in-kind contributions, rose 8% to Ft 176,200. Extra-wage benefits and in-kind contributions accounted for 5.1% of total work income on average during the period. Business sector gross wages rose 11.6% year-on-year to Ft 161,010 a month and public sector gross wages were up 9.3% in twelve months at Ft 173,841 in August. (Mti-Eco)