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HUNGARY: Average Gross Wages Rise at Slower Pace Than Anticipated

HUNGARY
CEEMEAEM BulletBulletEmerging Market NewsHungary
  • Average gross wages rose 12.5% y/y in September (Est: +13.0%) versus +13.1% in August, according data from the Central Statistical Office. That marks the lowest for the series since February 2023. On a month-on-month basis, average wages fell 0.3% compared to -1.3% prior.
  • The government published a decree late Thursday extending several extraordinary windfall taxes into next year, Bloomberg report. The move had been signaled by ministers. The levies that will remain in force with some modifications include taxes on banks and retailers.
  • Speaking on state radio this morning, Prime Minister Orban said he plans to invite Benjamin Netanyahu for a visit, disregarding the ICC arrest warrant issued for the Israeli premier yesterday and guaranteeing that he will not be arrested during his visit.
  • The NBH holds the second day of its Eurasia Forum, with Deputy Governor Barnabas Virag scheduled to speak at the event (no specific timing provided). Meanwhile, Orban meets his Romanian counterpart Marcel Ciolacu in Budapest.
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  • Average gross wages rose 12.5% y/y in September (Est: +13.0%) versus +13.1% in August, according data from the Central Statistical Office. That marks the lowest for the series since February 2023. On a month-on-month basis, average wages fell 0.3% compared to -1.3% prior.
  • The government published a decree late Thursday extending several extraordinary windfall taxes into next year, Bloomberg report. The move had been signaled by ministers. The levies that will remain in force with some modifications include taxes on banks and retailers.
  • Speaking on state radio this morning, Prime Minister Orban said he plans to invite Benjamin Netanyahu for a visit, disregarding the ICC arrest warrant issued for the Israeli premier yesterday and guaranteeing that he will not be arrested during his visit.
  • The NBH holds the second day of its Eurasia Forum, with Deputy Governor Barnabas Virag scheduled to speak at the event (no specific timing provided). Meanwhile, Orban meets his Romanian counterpart Marcel Ciolacu in Budapest.