ADVERTISEMENT

Absolute zero: 0% CPI reported for Hungary in January

Food

Hungary’s twelve-month consumer price index (CPI) fell to 0% in January from 0.4% in December, the Central Statistics Office (KSH) reported today, attributing the fall in part to the government-mandated 16.9% drop in household energy prices. 

KSH further reported that food prices edged down 0.2% year-on-year in January, prices in the category of goods that includes vehicle fuel decreased 0.6% and consumer durable prices fell 0.8%. Clothing prices slipped 0.7%, but alcohol and tobacco prices climbed 10.5% because of excise tax changes and service prices were up 3.1%.

Month-on-month, CPI was 0.3% in January.

Weighing in to comment with national news service MTI were three local analysts, who commented thusly.

Erste Bank Hungary analyst Gergely Gabler: CPI is likely to climb gradually as base effects leave the picture … annual inflation for 2014 should be 1.3%.

K & H Bank chief analyst Dávid Németh: Core inflation of around 3.5% in past months suggests inflation will climb over 2.5% by year’s end … annual inflation will be between 1.1% and 1.2% for 2014.

Takarékbank senior analyst Gergely Suppan: Average annual inflation this year could be around 1% ... the forint’s volatility and a deterioration of risk assessment could narrow the opportunity for the National Bank of Hungary (MNB) to lower its base rate further.

Alteo Revenue Down 26% in Q1 Green Energy

Alteo Revenue Down 26% in Q1

Gov't to Call HUF 75 bln Tender to Support Innovation by SME... Government

Gov't to Call HUF 75 bln Tender to Support Innovation by SME...

Gen Z Bringing New Challenges to Office Market Office Market

Gen Z Bringing New Challenges to Office Market

1990s Hungary Inspires Debut Novel ‘Ilona Gets a Phone’ History

1990s Hungary Inspires Debut Novel ‘Ilona Gets a Phone’

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 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.