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Feb 20, 2018

Hungary’s average gross wage tops 1,000 EUR a month for the first time

KSH revealed that Hungary’s average gross wage grew by an annual 13.5 percent to 327,713 HUF (1,050 EUR) in December

Hungary’s average gross wage grew by an annual 13.5 percent to 327,713 HUF (1,050 EUR) in December, the Central Statistical Office (KSH) has revealed.

The announcement highlights the first time the average Hungarian wage has topped 1,000 EUR per month.

According to MTI, net wages climbed at the same pace to 217,929 HUF. Calculating with annualized CPI of 2.1 percent in December, real wages rose by 11.2 percent.

Figures show that excluding the 150,300 Hungarians in fostered work programs, the average gross wage increased by 12 percent to 341,969 HUF.

Full-time fostered workers earned a monthly gross of 82,492 HUF on average in December. Net wages grew at the same pace as gross wages a month earlier, also climbing 13.0 percent to 214,764 HUF.

KSH said that wages have been boosted by a higher minimum wage as well as pay increases in certain areas of the public sector and at state-owned utility companies.