Hungary average wages rise as net pay outpaces gross growth

average wages net salary real wages tax benefits KSH

According to data from the Hungarian Central Statistical Office (KSH), average wages in Hungary saw significant growth in July. The gross average wage reached 745,500 HUF, representing a 7.5 percent increase compared to the same month the previous year. The net average wage rose by 9.1 percent year-on-year, reaching 523,300 HUF.

The faster growth in net wages compared to gross wages is attributed to the expansion of tax benefits, specifically family tax credits and increased tax exemptions for mothers. Real wages also increased by 7.8 percent annually.

Sectoral data shows that the nonprofit sector had the highest regular gross average wage at 741,700 HUF. In the budget sector, the wage was 721,200 HUF, while in the enterprise sector, it was 699,000 HUF. The construction sector saw a 9.6 percent annual increase in gross wages, while the manufacturing sector grew by 6.8 percent.

Entities

Hungarian Central Statistical Office · Hungary

Claims

What the coverage asserts, and how many sources carry each claim.

[● 3 SOURCES] Net average wages grew by 9.1 percent compared to the previous year. 10perc.hu · www.economx.hu · novekedes.hu
[● 3 SOURCES] The gross average wage in July was 745,500 forints. 10perc.hu · www.economx.hu · novekedes.hu
[● 3 SOURCES] Real wages increased by 7.8 percent year-on-year in July. 10perc.hu · www.economx.hu · novekedes.hu
[● 3 SOURCES] The faster growth of net wages compared to gross wages was driven by expanded family and maternity tax benefits. 10perc.hu · www.economx.hu · novekedes.hu
[● 3 SOURCES] The median gross wage was 618,200 forints. 10perc.hu · www.economx.hu · novekedes.hu
[● 3 SOURCES] The net average wage in July was 523,300 forints. 10perc.hu · www.economx.hu · novekedes.hu