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Country Report Hungary Product Image

Country Report Hungary

  • Published: September 2014
  • Region: Hungary
  • 27 Pages
  • The Economist Intelligence Unit

Annual consumer price inflation was 0.2% in August, up from 0.1% in July, according to the Central Statistical Office (KSH). In January-August prices were flat on average compared with 2013.

The biggest annual jump in prices in August was in services, where prices were up 2.7%-the highest rate since the start of 2014 and up from 1.8% in July. The increase was due partly to rising prices for travel services (a possible side-effect of a weak forint), and partly to base effects, after the impact of water utility price cuts in mid-2013 fell out of the base.

In some categories where prices are continuing to fall year on year, such as food, clothing and consumer durables, the rate of price decreases moderated in August, typically by a few tenths of a percentage point, to 0.1-0.3% year on year, thus contributing to higher overall inflation.

Country Report Hungary

Inflation stays low at an annual 0.2% in August
Event
Analysis
Impact on the forecast

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