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Financial News: Amended: Hungary Wage Growth Slows Further

Amended: Hungary Wage Growth Slows Further

07/25/2022 - 11:13:00 (RTTNews)

(RTTNews) - Corrects story as the latest month for which data available is May.

Hungary's average gross earnings growth eased for the third straight month in May, though marginally, figures from the Hungarian Central Statistical Office showed on Monday.

Average gross earnings rose 14.9 percent year-on-year in May, slightly below the 15.1 percent growth in April.

The average gross earnings decreased to HUF 481,598 in May from HUF 492,043 in the previous month.

Net earnings grew the same 14.9 percent annually in May, following a 15.1 percent rise in the prior month. Earnings fell to HUF 320,262 from HUF 327,208 in the preceding month.

Data showed that full-time employee's gross average earnings increased 14.5 percent annually in May, after a 14.7 percent gain in April. Average net earnings with tax benefits were also 14.5 percent higher than a year ago.

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