Analysts: gross wages can increase by 10 percent this year, real wage growth can be between 7-8 percent

Gross wages may increase by around 10 percent this year, while real wages – calculated with a 2.4 to 2.5 percent inflation rate – may rise between 7-8 percent, according to analysts interviewed by MTI.

Ürmössy Gergely, the leading macroeconomic analyst at Erste Bank, highlighted that gross average wages were 10.7 percent higher in February than in the previous year, according to the data released by the Central Statistical Office on Thursday. This rate is a significant acceleration, compared to the average growth of 6.2 percent in 2016. Net wages also rose steadily with a 10.7 percent annual growth in February, which is an increase of 7.6 percent in real terms. (MTI)