Real wages fall by 1.9 pc y/y in Sept
Real wages in Hungary fell by an annual 1.9 percent in September, as double-digit nominal wage growth couldn’t keep up with a CPI that edged over 20 percent, the Central Statistical Office (KSH) said on Thursday.
KSH data for full-timers at businesses with at least five people on payroll show the average gross wage rose by 17.8 percent to 504,100 forints (EUR 1,235). The net wage climbed at the same pace to 335,200 forints. The gross median wage increased by 17.2 percent to 409,200 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 also bumped up, putting wage growth in the double digits from January.
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Source: MTI
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