Financial News: Hungary Average Gross Wages Growth Eases Sharply

Hungary Average Gross Wages Growth Eases Sharply

05/24/2022 - 10:20:00 (RTTNews)

(RTTNews) - Hungary's average gross earnings increased at a slower pace in March, figures from the Hungarian Central Statistical Office showed on Monday.

Average gross earnings rose 17.0 percent year-on-year in March, which was much slower than the 31.1 percent increase in February.

The average gross earnings decreased to HUF 495,657 in March from HUF 526,844 in the previous month.

Net earnings grew the same 17.0 percent annually in March, following a 31.1 percent spike in the prior month. Earnings fell to HUF 329,612 from HUF 350,351 in the preceding month.

Data also showed that full-time employee's gross average earnings increased 17.5 percent annually in March, after a 31.7 percent rise in February. Average net earnings with tax benefits were 18.1 percent higher than a year ago.

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