Bloomberg News

Hungary May Wages Rise at Double the Pace of Economist Forecasts

July 19, 2012

Hungarian gross wages rose in May at twice the rate economists forecast as salary growth at private companies accelerated.

The average monthly gross wage rose 6.4 percent from a year earlier to 225,687 forint ($974), the statistics office in Budapest said in a statement today. The median estimate of seven economists in a Bloomberg survey was 3.2 percent.

Wage growth at private companies accelerated to 9.4 percent in May, the fastest this year, from 6.5 percent in April, while salaries for public employees dropped 0.6 percent in May after falling 7.3 percent in the previous month.

To contact the reporter on this story: Zoltan Simon in Budapest at zsimon@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net


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