Wage growth slows to 8.5 percent in October
The data for businesses and institutions with at least five people on payroll show the average gross monthly wage for full-time employees stood at 431,300 forints (EUR 1,170). The average net wage was 286,800 forints.
Calculating with twelve-month CPI of 6.5 percent in October, real wages rose by 1.9 percent.
Takarekbank chief analyst Andras Horvath said a 30 percent pay rise for health-care workers from January along with salary hikes in other sectors could cause wage growth to accelerate to 13 percent this year from around 9 percent in 2021. According to union sources, companies have agreed to raise wages 7-27 percent this year, against the backdrop of a more than 19 percent minimum wage increase and high inflation, he added.