Research: the financial situation of the middle-aged has become more favorable

Following the easing of the previous unfavorable economic environment, the slowdown of inflation, and the increase in real wages, the middle-aged people are in a more favorable financial situation, according to the second quarter results of the K&H secure future research.

Strong growth

In the 30-59 age group, the average household income was 566,000 forints, and the median was 484,000 forints – the latter shows that the amount was higher for half of the respondents and lower for the other half. Regarding household incomes, a significant increase can be seen compared to the values ​​of the previous three quarters: a year earlier, the average household income was HUF 472,000, the median was HUF 384,000.

Although according to the results of the research, the increase in average household income exceeds the increase in average wages, the latter also show significant progress. According to official figures, gross average wages were 13.5 percent higher and net wages 13.4 percent higher in April this year than a year earlier, and the real wage increase calculated together with inflation amounted to 9.5 percent. Although purchasing power increased this year based on earnings trends, thanks to this an improvement can also be seen in retail trade, but the caution factor is still quite strong. This means that, despite the more favorable financial situation, many households have not yet significantly increased their spending, and in the case of more expensive durable consumer goods, there is clearly still a subdued turnover.
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