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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
Impact on the forecast

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