Hungarian salaries are worth a fifth less than a year earlier

Despite significant wage increases, Hungarian salaries are worth way less than a year ago.

In February, the average gross salary of full-time employees was HUF 531,200, while the average net salary, taking into account discounts, was HUF 366,400, the Hungarian Central Statistical Office (KSH) said on Wednesday.

Average gross earnings were 0.8 percent higher and average net earnings were 1.2 percent higher than a year earlier, the statistics office said.

Real wages fell by 19.6 percent, with consumer prices rising by a strong 25.4 percent year-on-year.

Median gross earnings were HUF 423,400, which is a good HUF 100,000 lower than the average. Gross median earnings in February were 16.3 percent higher than a year earlier. Median net earnings, taking into account discounts, reached HUF 295,600, 16.5 percent higher than in the same period of the previous year, according to the KSH’s report.

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1 Comment

Norbert says:

26/04/2023 at 15:23

Don’t blame the Politicians. They inherited a mess (in 2010) and still dealing with things. And then there’s things going on around the world! To be more effective, they even instigated and perpetuate year on year the State of Alarm – so Parliament or Brussels Bureaucrats or Soros or Leftist Elites don’t screw things up.

FACT: states of danger or crises have been in place in Hungary for over 2,550 days, meaning the government effectively rules by decree (who needs a parliament, anyway?).

So it is a shame that according to official statistics, regardless of all the measures in place and the rhetoric, we are still arguably the worst off of any country in the EU (careful here – the United Kingdom has it’s own, unique and self inflicted issues).