Budapest, July 20 (MTI) – The average gross monthly wage in Hungary grew by an anual 6 percent in May, to 262,100 forints (EUR 835), the Central Statistical Office (KSH) said on Wednesday.

KSH attributed the increase to a 5.7 percent rise in the minimum wage for skilled and unskilled workers, higher stipends for the armed forces and a salary top-up for Hungarians employed in social services.

Wage growth decelerated for the second month in row after peaking this year at 6.6 percent in March.

Net wages rose at a faster clip during the period, climbing by 7.6 percent to 174,300 forints (EUR 560), due to a one percentage point reduction in the personal income tax rate.

Gross wages in the business sector were up 5.7 percent at 278,800 forints. In the public sector, gross wages rose by 6.8 percent to 231,500 forints.

Excluding Hungarians in fostered work programmes, public sector wages increased by 9.5 percent to 275,900 forints.

The 193,500 Hungarians in such programmes earned 79,500 forints on average in May.

In January-May, gross wages grew by 6.1 percent year on year. Net wages climbed by 7.7 percent during the period.

Source: MTI

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