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Country Report Hungary Product Image

Country Report Hungary

  • ID: 2101527
  • October 2014
  • Region: Hungary
  • 27 Pages
  • The Economist Intelligence Unit

Consumer prices in September fell by 0.5% year on year, according to the Central Statistical Office, putting inflation at another record low. Prices were down 0.2% compared with August, and down 0.1% in the first nine months of 2014 compared with a year earlier.

The fall in the headline annual inflation rate, from 0.2% in August, was owing mainly to several price increases and tax rises that took effect in mid-2013 and fell out of the base by September 2014. These included an increase in the regulated profit margin of tobacco retailers (who used it to raise prices) and a rise in the financial transaction tax (which banks passed on to clients).

Fuel prices in September fell 2.1% year on year, an acceleration from August. Prices of consumer durables, a category dominated by imports, fell an annual 0.7%, following a 0.2% drop in August, as the effects of falling prices abroad trumped the potential inflationary effects of forint weakness.

Country Report Hungary

Annual inflation back in negative territory in September
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