Inflation is a war, but wages are still rising
If there is work, everything is there!
We also feel like we’re paying more in the store, but we’re not making the mistake of being a left-liberal who has no idea what a shopping cart is and just grabs the price of food.
Although we do not follow our own consumer basket for HUF, we do know the general CSO basket. Inflation was 8.5% in March, while we paid 13% more for food than a year earlier, prices for services rose 6%, while prices for household energy remained virtually unchanged due to overhead cuts.
At the same time, the regular average monthly income was 15.5% higher in March than a year earlier. This represents a 6.5% increase in real wages (115.5 / 108.5) for March. The CSO calculates a higher value because they are based on the total monthly gross and not the regular one, but we were not so brave.
The minimum wage increased from HUF 167 thousand in 2021 to HUF 200 thousand, and the guaranteed minimum wage increased from HUF 219 thousand to HUF 260 thousand by 2022. This 19% increase is higher than the 15.5% increase in the average wage, ie the real value of the minimum wage and the guaranteed minimum wage increased more than the average wage.
As a result of this buoyancy, it can be said in general that the wages of the lower earners have increased more than those of the well-earned, i.e. the scissors are closing. It is easy to imagine that the wages of the neoliberal brain dead, who are already living in luxury, and bursting at the vanguard of telex stupid children, have risen by only 8%, so that instead of 300 thousand forints a month, he can only spend 280 thousand on his hobby.
The rate of inflation is already known for April and May, but wages have not yet been announced by the CSO.