KSH: gross average earnings were HUF 655,600 in December 2023, 16.4 percent higher than a year earlier

By: Trademagazin Date: 2024. 02. 22. 10:01

In December 2023, the gross average salary of those employed full-time was HUF 655,600, and the net average salary calculated with allowances in mind was HUF 451,300. The gross average wage increased by 16.4 percent, the net average wage by 16.3 percent, and the real wage by 10.3 percent compared to a year earlier, the Central Statistical Office (KSH) reported on Thursday.

In 2023, the gross average earnings reached HUF 571,200, and the net average earnings, calculated with allowances taken into account, reached HUF 393,700. In 2023, the average gross and net earnings were both 14.2 percent higher than in 2022, while real earnings decreased by 2.9 percent compared to a year earlier. The wage increase compared to December of the previous year was mainly influenced by the increase in the December minimum wage and the guaranteed minimum wage.

The regular gross average earnings (without premiums, bonuses, one-month special benefits) can be estimated at HUF 565,400, which is 17.3 percent higher than in the same period of the previous year. The regular gross average earnings in enterprises amounted to HUF 570,700, in the budget sector to HUF 532,700, and in the non-profit sector to HUF 606,000, rising by 18.1, 13.3, and 19.9 percent, respectively, in one year.

The average net salary reached HUF 435,900 without discounts, and HUF 451,300 with discounts, which was 16.4 and 16.3 percent higher than in December 2022, respectively. Real earnings increased by 10.3 percent in addition to the 5.5 percent increase in consumer prices compared to the same period of the previous year.