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KSH: Wages In Hungary Rose By 3.6% In April Year-On-Year

Tamás Székely 2015.06.19.

Average gross wages in Hungary rose by an annual 3.6% to 248,363 forints in April, the Central Statistical Office (KSH) reported on Friday. Net wages rose at the same pace to reach 162,679 forints. Excluding the impact of public workers, who earned just 82,380 forints in April, gross wages were up 2.6% at 261,107 forints. In the period January-April 2015, wages in real terms increased significantly, by 4.8 percent, within the national economy, the report shows.

Within the national economy, gross and net wages averaged HUF 241 600 and HUF 158 200 (excluding family tax allowances) in the observed period, which shows an increase of 3.9 percent year-on-year. Including family tax allowances, net wages averaged HUF 165 100. Excluding the effect of public work schemes, gross wages averaged HUF 260 000 in the private sector, HUF 237 700 at budgetary institutions and HUF 229 600 at non-profit organizations in the period January-April 2015.

Thanks to the 0.9 percent decline of consumer prices, wages in real terms increased more than gross wages. Thus, in January-April 2015, wages in real terms were up by 4.8 percent, and – excluding the effect of public work schemes – they increased by 3.8 percent. Excluding public work schemes, wages in real terms were 4.4 percent higher within the private sector, 2.3 percent higher in the public sector and 2.7 percent higher in the non-profit sector. Wages of public work employees increased by 4.4 percent over the past one year.

via ksh.hu and kormany.hu photo: itbusiness.hu