Wage growth slows to 8.5 pc in October

Annual wage growth in Hungary slowed to 8.5 percent in October from 9.1 percent in the previous month, the Central Statistical Office (KSH) said on Tuesday. The data for businesses and institutions with at least five people on the payroll show the average gross monthly wage for full-time employees stood at 431,300 forints (EUR 1,170). The average net wage was 286,800 forints. Calculating with twelve-month CPI of 6.5 percent in October, real wages rose by 1.9 percent.