[Hungary] Public sector slows rate of growth as wages continue to rise

Gross and net wages in Hungary reportedly rose by 8.8 per cent year-on-year in September, illustrating a slowdown since the summer. The data more closely reflects the underlying wage dynamic, which can be traced with regular wage growth. In September, wages without one-off premiums and bonuses increased by 8.6 per cent year on year.

The slowdown in wage growth is primarily a result of the phasing-out of the one-off increases in the healthcare sector, the previous wage settlement is now in the base, meaning that wages in healthcare increased by only 3 per cent year on year in September. By contrast, salaries in the education sector had a double-digit rise as the new round of wage settlements kicked in. Think offers further analysis.

Gross and net wages in Hungary reportedly rose by 8.8 per cent year-on-year in September, illustrating a slowdown since the summer. The data more closely reflects the underlying wage dynamic, which can be traced with regular wage growth. In September, wages without one-off premiums and bonuses increased by 8.6 per cent year on year.

The slowdown in wage growth is primarily a result of the phasing-out of the one-off increases in the healthcare sector, the previous wage settlement is now in the base, meaning that wages in healthcare increased by only 3 per cent year on year in September. By contrast, salaries in the education sector had a double-digit rise as the new round of wage settlements kicked in. Think offers further analysis.