Hungarian annual inflation highest in EU

EU

The annual inflation rate in Hungary was 4.7% in January 2020, which is the highest among European Union member states, according to data by statistical agency Eurostat.

The second-highest rate was registered in Romania (3.9%), followed by the Czech Republic and Poland (both 3.8%). The lowest annual rates were registered in Italy (0.4%), Cyprus (0.7%), Denmark and Portugal (both 0.8%). 

The euro area annual inflation rate was 1.4% in January 2020, up from 1.3% a month before. In January 2019, the rate was 1.4%. EU annual inflation was 1.7% in January 2020, up from 1.6% in December. The rate stood at 1.5% in January 2019.

Eurostat says that compared with December, annual inflation fell in five Member States, remained stable in five and rose in 18.

In January, the highest contribution to the annual euro area inflation came from services (+0.68 percentage points, pp), followed by food, alcohol & tobacco (+0.40 pp), energy (+0.19 pp) and non-energy industrial goods (+0.08 pp)

As the Budapest Business Journal reported earlier, significant price rises were measured over the past year for motor fuels, alcoholic beverages and tobacco as well as food in Hungary, according to data by the Central Statistical Office (KSH).

HUPX Joining Serbian, Slovenian Peers in Adex Power

HUPX Joining Serbian, Slovenian Peers in Adex

Moldovan Pensions to be Increased as of April 1 World

Moldovan Pensions to be Increased as of April 1

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic... Appointments

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic...

Hungarian Wine Marketing Agency to Host Summit Drinks

Hungarian Wine Marketing Agency to Host Summit

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.