Hungary gross wages climb 10.2 pc in March

The average gross wage for full-time workers in Hungary rose by 10.2 percent year on year to 367,200 forints (EUR 1,155) in March, the Central Statistical Office (KSH) said on Thursday. Net wages grew at the same pace, reaching 244,200 forints. Wage growth in Hungary has been in the double digits for a little more than two years, since the government, employers and unions agreed on a series of minimum wage increases paired with payroll tax cuts. Calculating with twelve-month CPI of 3.7 percent in March, real wages were up by 6.3 percent. Excluding the 96,500 Hungarians in fostered work programmes, the average gross wage rose by 9.1 percent to 377,100 forints, while net wages grew at the same rate to 250,800 forints.