Hungary’s Pension Increase Falls Below Inflation, Media Report Shows
Pensions to Increase by 3.2 Percent in Hungary
Hungarian pensioners can look forward to a 3.2 percent increase in their pensions starting from January. This increase, announced by State Secretary Robert Zsigo in a video message on Facebook, is aligned with the expected rate of inflation for the year.
The average monthly pension of 234,000 forints (EUR 564) will see a rise of approximately 7,500 forints, ensuring the purchasing power of pensions. Additionally, pensioners will receive their annual bonus, equivalent to a full month’s pension, in February. Despite pressure from Brussels to scrap this bonus, the Hungarian government has decided to maintain it.
However, according to reports from 24.hu, the real value of Hungarian pensions is set to decrease this year due to an annual inflation rate of around 3.7% in 2024, with food prices experiencing a 4.9% inflation last year. Hungarian pensioners may only see a correction to their pensions later in the year.
This announcement may leave some pensioners discontent, but the government’s commitment to supporting pensioners’ purchasing power remains unchanged.
In other news, a surprising marriage between a 78-year-old Hungarian mayor and an 18-year-old mother has taken an unexpected turn. Additionally, the American dollar has broken a new psychological barrier against the forint, impacting exchange rates.
