In March 2018, average gross monthly earnings of Hungarians amounted to HUF 331,500, a 11.3% increase year-on-year, the Central Statistical Office (KSH) reported on Wednesday. In the first quarter of 2018, both gross and net earnings grew by 12.4% compared to the equivalent three-month period of the previous year.
The Monetary Council of the National Bank of Hungary (MNB) decided to keep the MNBʼs key rate on hold at 0.90% at a monthly policy meeting on Tuesday. In the meantime, it does not seem concerned at the weakening of the forint exchange rate.
The Hungarian government has sent its updated Convergence Program to the European Commission. The document contains aspiring numbers regarding the economy’s growth potential for the coming years. First quarter GDP data seems to justify such ambitious plans, at least in the short-term.
László Baldauf, the co-founder and owner of local supermarket chain CBA, is selling his remaining share in the company, according to daily newspaper Népszava. The package will be acquired by other CBA owners.
The economic sentiment index in Hungary deteriorated "marginally" in May, according to economic research institute GKI. This was the result of a deterioration in consumer expectations. Business expectations improved slightly, GKI says.