Financial News: Hungary Wage Growth Accelerates In December

Hungary Wage Growth Accelerates In December

02/23/2023 - 09:08:00 (RTTNews)

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

Average gross earnings rose 17.9 percent year-on-year in December, faster than the 16.7 percent increase in November.

The average gross earnings increased to HUF 563,218 in December from HUF 544,597 in the previous month.

Net average earnings without tax benefits grew 18.1 percent annually at the end of the year, following a 16.8 percent gain a month ago.

Data also showed that full-time employee's gross average earnings increased 17.3 percent annually in December, after a 16.1 percent rise in November.

In 2022, average gross earnings rose by 17.5 percent, and net earnings including tax benefits rose by 18.2 percent compared to 2021.

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