Hungary: real income drops by 2,7 per cent

Last year the gross incomes of the Hungarians increased by 4,3 per cent, their net salaries by 3,3 per cent. This sounds great, but it is not, because just during the first three months of 2009 the real incomes dropped by 2,7 per cent. In the public sector the real incomes even dropped by 10 per cent, which has to do with boni granted last year but which have not been paid this year.

From January till March gross wages and gross salaries in the private industry increased by 4,8 per cent (compared to previous year). On the other hand the consumer price index increased by almost 7 per cent. Calculating the differences reveals that in the private industry people earn just the same as they did 12 months ago.