Wage growth may accelerate analysts say

The pace of wage growth slowed slightly in July, compared to the previous month, but wage growth may re-accelerate from autumn in the public sector, due to the planned increases, and due to the continuous expansion towards labor force in the private sector – analysts told MTI reflecting to the data of the Central Statistics Office (KSH) published on Tuesday.

According to the Central Statistics Office (KSH), average gross earnings amounted to 256.9 thousand HUF in July, 5.1 percent higher than a year before. In January-July gross earnings increased by 5.9 percent, compared to the same period of the previous year, reaching 257 900 HUF, while the growth of net earnings was 7.5 percent, because of the 1 percentage point reduction in the rate of personal income tax. (MTI)