Gross wages climb 12.1% in February

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The average gross wage for full-time workers in Hungary rose 12.1% year-on-year to HUF 345,900 in February, the Central Statistical Office (KSH) said on Tuesday. Average net wages grew at the same pace, to just under HUF 230,000.

Wage growth in Hungary has been in the double digits for two years, since the government, employers and unions agreed on a series of minimum wage increases paired with payroll tax cuts, recalled state news agency MTI.

Calculating with 12-month CPI of 3.1% in February, real wages were up 8.7% year-on-year.

In January-February 2019, average gross wages amounted to HUF 344,700 and average net wages to HUF 229,200; both figures grew by 11.4% compared to the same period of the previous year.

Average gross earnings were the highest in financial and insurance activities (HUF 612,900) and the lowest (HUF 229,500) in healthcare and social services.

Full-time employees’ average gross earnings amounted to HUF 376,900 for men and HUF 313,000 for women, representing increases of 12.1% and 10.2%, respectively, over one year.

Along with the 2.9% rise in consumer prices compared to the same period of the previous year, real wages increased by 8.3% in the first two months of 2019.

Wage data for March, and for the first quarter of 2019, will be published on May 30.

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