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Forecasts Indicate Oct CPI of 9-10% - Minister

Analysis

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Economic Development Minister Márton Nagy said forecasts suggested Hungary's inflation could fall into the single digits in October, speaking at the Tranzit festival in Tihany on Saturday.

Hungary's CPI could reach 16% in August, 11-12% in September, 9-10% in October, 8pc in November, and 7% in December, according to forecasts, Nagy said.

He acknowledged the impact of an online price-monitoring platform for food prices at big retailers on spurring competition and bringing down inflation.

Consumer prices rose 17.6% year-on-year in July, falling for the sixth month in a row after peaking at 25.7% in January.

Touching on the subject of trade and foreign investment, Nagy pointed to Hungary's "bridging role" between German and Chinese capital.

He added that Hungary needed strengthening in the area of logistics.

 

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