Average wage in Hungary continues to grow significantly

The average gross wage of full-time employees in Hungary grew by an annual 15.3 percent in July, amounting to 500,000 forints (EUR 1,230), the Central Statistical Office said on Friday.

The data for full-timers at businesses with at least five people on the payroll show the average net wage rose at the same rate, to 332,500 forints. The gross median wage increased by 14.5 percent to 400,900 forints. Hungary’s statutory minimum wage was raised by over 19 percent from the start of the year, while the salaries of many public sector employees sector were bumped up, putting wage growth in the double digits from January.

Real wage growth was 1.4 percent, calculating with a 13.7 percent CPI in July.