Average gross wages in Hungary jumped 15.6 percent from a year earlier to HUF 421,700 in June of 2020, following a 9.4 percent rise in May. It is the biggest wage increase since January of 2003, due to a one-time HUF 500,000 bonus received by health care workers. In January–June 2020, average gross earnings amounted to HUF 395,000, a 9.9 percent rise over a year earlier, with the highest earnings seen in financial and insurance activities (HUF 723,500) and the lowest (HUF 249,900) in accommodation and food service activities. Considering the 3.4 percent rise in consumer prices, real earnings increased by 6.3 percent in the first half of 2020.
Wage Growth in Hungary averaged 8.44 percent from 1999 until 2020, reaching an all time high of 26.19 percent in January of 2005 and a record low of -5.30 percent in January of 2009. This page provides - Hungary Wage Growth- actual values, historical data, forecast, chart, statistics, economic calendar and news. Hungary Gross Average Wages Growth - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020.
Wage Growth in Hungary is expected to be 8.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Wage Growth in Hungary to stand at 7.60 in 12 months time. In the long-term, the Hungary Gross Average Wages Growth is projected to trend around 8.00 percent in 2021 and 8.20 percent in 2022, according to our econometric models.