Gross wages for full-time employees in October amounted to HUF 510,000 (EUR 1,275), while net average wages, taking into account family benefits, amounted to HUF 352,000 (EUR 880). This represents an increase of 18.4% and 19.1%, respectively, compared to the same period in 2021.
The primary contributors to the increase were the increase in the minimum wage and early wage increases to compensate for runaway inflation.
Real wages shrank 2.2% to end-2020 levels on the back of 21.2% inflation in the 10th month of last year.