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Wages grow 7.9 percent in July

Wages in Hungary grew by an annual 7.9 percent in July from 3.5 percent in in the previous month, the Central Statistical Office (KSH) said on Wednesday.

The data for businesses and institutions with at least five people on payroll show the average monthly wage before tax for full-time employees stood at 433,700 forints (EUR 1,200). The average net wage was 288,400 forints. The gross median wage was 350,000 forints.

Calculating with annual inflation of 4.6 percent in July, real wages increased by 3.2 percent.

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