Forecasts Indicate Oct CPI of 9-10% - Minister

Analysis

Image by Shutterstock.com

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.

 

ADVERTISEMENT

ÁKK Exchanges HUF 20 bln of Bonds at Wednesday Switch Auctio... Debt

ÁKK Exchanges HUF 20 bln of Bonds at Wednesday Switch Auctio...

Hungary Makes Proposals to Ease Administrative Burden for EU... EU

Hungary Makes Proposals to Ease Administrative Burden for EU...

MOL Signs Antwerp Declaration for a European Industrial Deal Deals

MOL Signs Antwerp Declaration for a European Industrial Deal

Investors of the Year in Limelight at Hipa’s Award Ceremony Awards

Investors of the Year in Limelight at Hipa’s Award Ceremony

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.