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Higher minimum wage, public sector pay push wage growth above 16 percent

The average gross wage in Hungary rose by an annual 16.6 percent to 497,200 forints (EUR 1,200) in August, the Central Statistical Office (KSH) said on Monday.

The average net wage of full-timers at businesses with at least five people on payroll rose at the same pace to 330,660 forints. The gross median wage increased by 15.6 percent to 402,200 forints.

Hungary’s statutory minimum wage was raised by over 19 percent from the start of the year, while the salaries of many people employed in the public sector were bumped up, putting wage growth in the double digits from January.

Real wage growth was 0.9 percent, calculating with an August CPI of 15.6 percent.

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