Average gross wages in Hungary increased 10.8 percent over a year earlier to HUF 401,800 in July 2020, easing from a 15.6 percent jump in the previous month, as earning rose at a softer pace in the public sector (10.4 percent vs 30.3 percent in June). On the other hand, wages in the private sector went up 11.5 percent, faster than a 10.8 percent gain in June. Considering the first seven months of the year, average gross wages grew 10 percent over the same period of 2019 to HUF 395,900.
Wage Growth in Hungary averaged 8.45 percent from 1999 until 2020, reaching an all time high of 26.19 percent in January of 2005 and a record low of -5.30 percent in January of 2009. This page provides - Hungary Wage Growth- actual values, historical data, forecast, chart, statistics, economic calendar and news. Hungary Gross Average Wages Growth - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020.
Wage Growth in Hungary is expected to be 8.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Wage Growth in Hungary to stand at 7.60 in 12 months time. In the long-term, the Hungary Gross Average Wages Growth is projected to trend around 8.00 percent in 2021 and 8.20 percent in 2022, according to our econometric models.