off-the-wire

Hungary's gross wages growth slows to 0.8% y/y in Feb due to big one-off impact -stats

Kitco Media
By Reuters
Published:
Updated:
Reuters
BUDAPEST, April 26 (Reuters) - Hungary's gross average wages rose by an annual 0.8% in February following a 16.1% increase in January, but wage growth in the private sector picked up to 17.6% year on year, the Central Statistics Office (KSH) said on Wednesday. The KSH said the change in overall average earnings was considerably affected by the payment of a so called “service premium” for the army and the law enforcement personnel corresponding to six-month salary in February last year.


Without this effect, the rise in average gross earnings would be higher by 14.8 percentage points, the KSH added.
(% change from pvs year) Feb 2023 Jan 2023 Feb 2022 GROSS WAGE GROWTH 0.8 16.1 31.1 Private sector 17.6 17.0 12.9 Public sector -35.0 13.6 93.4


(Reporting by Krisztina Than)

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