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2023.03.2808:51:00UTC+00Hungary Wage Growth Eases To 16.1%

Hungary's average gross earnings increased at the slowest pace in six months in January, figures from the Hungarian Central Statistical Office showed on Tuesday.

Average gross earnings rose 16.1 percent year-on-year in January, slower than the 17.9 percent increase in December. Further, this was the weakest rate of growth since June 2022.

The average gross earnings decreased to HUF 528,023 in January from HUF 563,218 in the previous month.

The highest average gross earnings were recorded in the information and communication section, and the lowest ones in accommodation and food service activities, the agency said.

Net average earnings without tax benefits also grew 16.1percent annually at the start of the year to HUF 351,135.

Data also showed that full-time employee's gross average earnings increased 17.0 percent annually in January, after an 18.1 percent rise in December.

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