KSH: Household consumption up by 2.7%
Monthly household consumption saw an increase of an annual 2.7% in real terms to an average of HUF 68,609 per consumer, registering growth for the first time in the past eight years, Hungary’s Central Statistics Office (KSH) said over the weekend.
KSH termed the rise in real wages and pensions, by a respective 3.2% and 2.4%, as the chief reason for growth in household consumption, adding that the expansion of employment also boosted the measure. KSH noted that the latter means that more households received a regular wage, especially poorer households.
KSH said that spending on food had declined, so did expenditures on household upkeep. KSH said the latter was chiefly due to the government mandated cut in household utility bills, which gave households more money to spend elsewhere.
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