Hungary Wage Growth Accelerates In December

(RTTNews) - Hungary's average gross earnings increased at the fastest pace in seven months in December, figures from the Hungarian Central Statistical Office showed on Thursday.

Average gross earnings rose 16.4 percent year-on-year in December, faster than the 14.1 percent increase in November.

The average gross earnings increased to HUF 655,552 in December from HUF 621,150 in the previous month.

Net average earnings grew 16.3 percent annually at the end of the year, and real earnings were 10.3 percent higher than a year ago.

During the year 2023, both average gross earnings and net earnings, including tax benefits, rose by 14.2 percent, while real earnings decreased by 2.9 percent compared to 2022.