GFM: the average salary already exceeds HUF 560,000

Looking at the first 11 months of 2022, gross wages increased by 17.5 percent, which also means that by the end of November last year, real earnings rose by 3.4 percent as a whole – even in the sanctioned inflation situation – so that wages still maintained their purchasing power.

The increase in earnings may continue this year, i.e. in 2023, as thanks to the agreements the minimum wage has increased by 16 percent and the guaranteed minimum wage by 14 percent. At the same time, the government is not only helping to increase wages, but by protecting the utility reduction to the level of average consumption, it is leaving HUF 181,000 per month in the pockets of families, as well as combating the negative effects of harmful sanctions rejected by Hungarians with an interest rate freeze and a food price freeze.