The average gross wage of full-time employees was 652,000 forints (EUR 1,670) in May, up by an annual 14.8%, the Central Statistical Office (KSH) said. The average net wage was 448,700 forints in May, up by an annual 14.6%, KSH said. Real wages rose by 10.4%. The gross median wage increased by an annual 16.9% to 525,000 forints. Regular gross wages (discounting bonuses and other one-time benefits) came to 607,800 forints on average in May. Gross regular wages in business averaged at 609,100 forints, and were at 592,900 in the public sector, up by 14.1% and 17.5%, respectively. The non-profit sector saw a 19.3% increase to 636,200 forints. Net regular wages were at 433,600 forints, up by an annual 14.8%. Real wages grew by 10.4% against a 4.0% growth of retail prices. For the period January-May, gross wages averaged 633,000 forints and net wages came to 421,000 forints, up 14.2% from the same period a year earlier.
Commenting on the data, the state secretary for employment policy said that government measures had succeeded in keeping inflation down, resulting in a 9-month stretch of growth in real wages. That was partly thanks to an “unprecedented agreement” between employers and employees which led to a raise in minimum wages in December already, Sándor Czomba said in a statement. The dynamic growth of real wages is easing caution in the public and helping consumption, he said. Retail has been growing for five months, and tourism was up by nearly 8% in the first half of the year, compared with the record year of 2023, he added.