Hungary sees significant growth in wages in July

Net wages climbed at the same pace to HUF 423,400 (EUR 1073), KSH said.

Real wages rose 9.4pc, calculating with July CPI of 4.1pc.

The gross median wage increased 16.5pc to HUF 524,100 (EUR 1328).

From December 1, Hungary’s statutory monthly minimum wage was raised by 15 percent to HUF 266,800 (EUR 676) for unskilled labourers and by 10 percent to HUF 326,000 (EUR 826) for skilled workers.

Excluding the 66,000 Hungarians working full-time in fostered work programs—who earned an average gross of HUF 132,000 in July—the average gross monthly wage was HUF 647,400.

The average gross wage in the business sector, which includes state-owned companies, rose 12.7pc to HUF 639,000 (EUR 1619), excluding fostered workers. The average gross wage in the public sector, without fostered workers, climbed 17.6pc to HUF 672,000 (EUR 1703).

In the non-profit sector, the average gross wage, without fostered workers, increased 15.8pc to HUF 667,900 (EUR 1692).

Hungarians employed in the financial and insurance sector were the highest earners in July, with an average gross of HUF 1,010,300. People working in commercial accommodations and catering earned the least, with HUF 406,900.

For January-July, gross wages averaged HUF 635,000, and net wages came to HUF 422,300, both up 14.0 percent from the same period a year earlier.

As we wrote earlier, Orbán cabinet targets ‘significant’ minimum wage rise for 2025.

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