Average monthly gross earnings of Hungarian employees increased at a faster pace in May, and the rate of growth far exceeded economists' expectations, data released by the Central Statistical Office showed Thursday.
Monthly gross wages advanced 6.4 percent on an annual basis in May, after growing 2.5 percent in April. Economists were looking for a 3.2 percent increase.
Wages and salaries in the business sector rose at a faster rate of 9.4 percent during the month than the previous month's 6.5 percent. In budgetary institutions, meanwhile, gross wages decreased 0.6 percent annually during the month, after dropping 7.3 percent a month earlier.
In the January-May period, gross earnings increased 4.4 percent from the corresponding period a year earlier, data showed.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.