Average gross wages in Hungary grew 9.1 percent from a year earlier to HUF 377,300 in February of 2020, after a 9.2 percent rise in the previous month. This was the slowest increase in earnings since April of 2019, as wages advanced at a softer pace in the public sector (7.1 percent vs 11 percent in January) while in the private went up further (9.6 percent vs 8.6 percent). In the first two months, gross wages advanced by 9.2 percent from the same period a year earlier to HUF 376,300. Economic developments resulting from the coronavirus epidemic have not yet affected earnings growth, according to the statistical office.
Wage Growth in Hungary averaged 8.41 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 May of 2020.
Wage Growth in Hungary is expected to be 9.50 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 8.50 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.