Average gross wages in Hungary increased by 11.2 percent year-on-year to HUF 364,400 in May 2019, following a 9.0 percent gain in the previous month, as wages rose further in both private (11.2 percent compared to 10.3 percent in April) and public sectors (10.7 percent compared to 3.6 percent). In the January-May period, gross wages advanced by 10.6 percent from the same period a year earlier. Wage Growth in Hungary averaged 8.30 percent from 1999 until 2019, 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.
Wage Growth in Hungary is expected to be 8.70 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 8.00 in 12 months time. In the long-term, the Hungary Gross Average Wages Growth is projected to trend around 7.50 percent in 2020, according to our econometric models.