Hungary April gross wages rise 5.9 pc yr/yr (adds analysts’ comments)

Budapest, June 17 (MTI) – Gross average wages in Hungary rose by an annual 5.9 percent in April after falling by 1.4 percent year on year in March, the Central Statistical Office (KSH) said on Friday.  

Gross wages in the business sector rose 4.0 percent in April and public sector wages were 10.8 percent higher.


Net wages were up 7.6 percent in April, well above the 1.7 percent increase in March. Net wages rose 7.4 percent in the business sector and were up 8.0 percent in the public sector.


Gross wages rose faster than expected in April, analysts told MTI on Friday.


TakarekBank analyst Gergely Suppan said the rise in April wages came as a surprise, but added that the labour market was likely to remain “loose” in the coming months. He added that he did not expect the rate of business-sector wage growth to speed up.


Tamas Gerocs of EQUILOR Befektetesi also said the high growth in April had been unexpected and could signal the start of an unwelcome trend. The April data was unlikely, however, to influence a decision by central bank rate-setters at their scheduled meeting on Monday, he added.

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