Real wage development in Hungary 2019-2024
Real wage development refers to the inflation-adjusted growth in wages, indicating the amount of goods and services individuals can purchase compared to the previous year. Over the observed period, the highest growth rate of real wages in Hungary was recorded in 2024, marking a 7.3 percent increase compared to the preceding year.
Changes in consumer prices
Hungary has recorded peaking inflation rates over the past years, surpassing all EU countries. The change in consumer prices affected different commodity groups to a varying extent. As of August 2023, electricity, gas, and other fuels, as well as other goods such as motor fuels and lubricants, recorded the highest inflation rates, reaching a year-over-year price increase of 35 percent and 20 percent, respectively. Over the same period, food prices increased by 19.5 percent in the country.
How large is the gender pay gap in Hungary?
The gender wage gap is the difference between the average gross hourly earnings of men and women across all sectors. Despite the significant steps taken toward achieving gender equality, there is still a major difference between the hourly earnings of Hungarian men and women. In 2022, men earned 17.5 percent more than women working in Hungary, which represented a significantly larger gender pay gap than the average of the European Union.
