Hungarian Wages Are Still Rising

2020. december 01.

ING Think

The almost double-digit wage growth continues in Hungary, but the public sector is slowing the pace of growth. Expect a fierce debate around minimum wage in 2021. Hungarian gross and net wages rose by 8.8% year-on-year in September, depicting the slowdown since the summer. This data is much closer to the underlying wage dynamic, which we can trace with regular wage growth. Wages without one-off premiums and bonuses increased by 8.6% YoY in September.