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GROSS WAGE GROWTH REACHES 10.8% IN OCTOBER

 

Gross wage growth in Hungary reached 10.8% year-on-year in October, the Central Statistical Office said. In absolute terms, Hungarians employed full time earned a gross monthly 327,100 forints (EUR 1,000). Net wages climbed 10.9% to 217,500 forints during the period. Annualised wage growth has been in the double digits since early 2017, after an agreement was reached by employers, unions and the government on big minimum wage increases paired with payroll tax cuts.