Hungarian salaries are worth a fifth less than a year earlier

Despite significant wage increases, Hungarian salaries are worth way less than a year ago.

In February, the average gross salary of full-time employees was HUF 531,200, while the average net salary, taking into account discounts, was HUF 366,400, the Hungarian Central Statistical Office (KSH) said on Wednesday.

Average gross earnings were 0.8 percent higher and average net earnings were 1.2 percent higher than a year earlier, the statistics office said.

Real wages fell by 19.6 percent, with consumer prices rising by a strong 25.4 percent year-on-year.

Median gross earnings were HUF 423,400, which is a good HUF 100,000 lower than the average. Gross median earnings in February were 16.3 percent higher than a year earlier. Median net earnings, taking into account discounts, reached HUF 295,600, 16.5 percent higher than in the same period of the previous year, according to the KSH’s report.

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