KSH: The gross average salary was HUF 564,400 in October 2023, 14.0 percent higher than a year ago

According to the announcement, gross and net average earnings both increased by 14.0 percent, and real earnings by 3.7 percent compared to a year earlier.

The regular gross average earnings (without premiums, bonuses, one-month special benefits) can be estimated at HUF 540,200, which is 14.5 percent higher than a year earlier. The regular gross average earnings in enterprises amounted to HUF 545,000, in the budget sector to HUF 517,300, and in the non-profit sector to HUF 556,300 in October, rising by 14.9, 12.1, and 15.8 percent respectively in one year, they wrote.

The average net salary without discounts was HUF 375,300, 14.0 percent more than in October 2022. Real earnings increased by 3.7 percent in addition to the 9.9 percent increase in consumer prices compared to the same period of the previous year, the KSH indicated.