In December 2013, consumer prices decreased by 0.5% month-on-month; naturally the big 8.1% drop saw electricity, gas, and fuel prices post the biggest decrease, due to the government-mandated cuts to utility fees in the later part of the year.
The highest rises m.o.m. were seen in alcohol and tobacco products (1.2%) and “other goods” (1.0%). Motor fuel prices were up 2.5%.
For the year, prices rises were highest in alcoholic beverages and tobacco was the highest (a 10.9% increase y.o.y. due muchly to implementation of the National Tobacco Shop scheme and concomitant mandated profit margins), followed by services (3.6%) and food products (2.8%). Consumers paid 0.4% less y.o.y. for clothing and footwear; 1.9% less for consumer durable goods and 8.5% less for electricity, gas and other fuels.
Within the 28 member states of the European Union (EU-28), annual inflation increased 1.0% year-on-year through November ’13. The lowest annual inflation rates were observed in Greece (-2.9% y.o.y.) and Bulgaria (-1.0%), with the highest in Estonia (2.1%) and Finland (1.8%).
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
