FX.co ★ Hungary Gross Wage Growth Nears 2-Year Low

In January 2025, Hungary experienced a 10.4% year-on-year increase in gross average wages, reaching HUF 668,069. This represents a slowdown from the 11% increase observed in December, marking the slowest rise since February 2023. The deceleration in wage growth was most notable in the public sector, declining from a 17.2% rise in December to 11.8% in January. Conversely, wage growth in the private sector accelerated slightly, climbing from 9.5% to 9.9%, while the non-profit sector saw a modest increase from 11.9% to 11%. Excluding the effects of one-time payments and bonuses, wages in January were 10.6% higher than they were a year prior, amounting to HUF 639,800.