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Gross wages up 15.2 percent yr/yr in August

Gross wages in Hungary grew by an annual 15.2 percent in August, to 555,900 forints (EUR 1,450), the Central Statistical Office (KSH) said on Tuesday.

The average net wage including benefits rose by 15.1 percent to 383,500 forints, KSH said.

The average gross wage without benefits increased by 14.1 percent, to 528,500 forints.

Sandor Czomba, the state secretary for labour policy, said the data showed average wages had grown by 73,000 forints in 2023, bringing wages to almost three times higher than those during Prime Minister Ferenc Gyurcsany’s tenure before 2010.

Thanks to the government’s efforts to cut down inflation, the purchase value of wages is estimated to have stagnated in August. The trend will hopefully turn in September, he said. Growing real wages are expected to boost consumption and so to restore economic growth, he said.


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