The Central Statistical Office (KSH) announced on Tuesday that gross wages in Hungary grew by an annual 17.9% in May, to 567,800 forints (EUR 1,499).
KSH said net wages rose by 17.7% to 377,600 forints. Real wages fell by 3.0%, calculated with a May CPI of 21.5%. The gross median wage increased by 17.8% to 449,100 forints. Excluding the 67,700 Hungarians working full-time in fostered work programmes, the gross monthly wage in Hungary was 577,600 forints. Commenting on the data, the ministry for economic development said the government was keeping up efforts to protect families and jobs despite the “difficult economic situation amid the protracted war and failed Brussels sanctions”. It has introduced mandatory discounts in food stores, which it will raise to 15% from August, and launched an online price monitoring system. The latter has already succeeded in reducing the price of monitored products by 6.7%, the statement said. Inflation has dropped by one-fifth since it peaked in January, the ministry said. The government has also raised the amount available on SZÉP cards, a wage benefit system, by 200,000 forints. Falling inflation is expected to allow real wages to rise in the near future, it said.