Bloomberg News

Hungarian March Wages Grow More Slowly as Public Salaries Drop

May 18, 2012

Hungarian wages rose less than economists estimated in March as salaries for public employees dropped from a year earlier.

The average monthly gross wage rose 2.7 percent from March 2011 to 222,741 forint ($941), the statistics office in Budapest said in a statement today. The median estimate of 13 economists in a Bloomberg survey was 6.5 percent.

Wage growth at private companies slowed to 5.8 percent in March from 8.9 percent in February while salaries for public employees dropped 4.5 percent in March after rising 2.1 percent in the previous month.

To contact the reporter on this story: Zoltan Simon in Budapest at

To contact the editor responsible for this story: Balazs Penz at

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