Average gross wages in Hungary grew 9 percent from a year earlier to HUF 400,400 in March of 2020, after a 9.1 percent rise in the previous month. It was the slowest increase in earnings since April of 2019, as wages advanced at a softer pace in the private sector (9 percent vs 9.6 percent in February) while in the public went up further (8.7 percent vs 7.1 percent). In the first quarter of the year, gross wages rose by 9.1 percent from the same period a year ago to HUF 384,200. The statistical office said that March figures only partly reflected the economic impact of the coronavirus pandemic.
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.