CPI surprises analysts with 0.9% drop
Hungary’s deflationary trend outdid expectations of analysts as the consumer price index dropped a year-on-year 0.9% in December, accelerating from November’s drop of 0.7%, the Central Statistics Office (KSH) reported today.
London analysts polled by MTI's London correspondent, said yesterday that they expected Hungary's CPI to drop by a year-on-year 0.4% in December.
In year-on-year terms, food prices dropped 0.6% overall, and in detail the decreases were as follows: sugar (19.6%), edible oil (5.2%), seasonal food items (4.5%) and flour (3.9%), KSH said. Prices reportedly rose for eggs (3.9%), chocolate, cocoa (1.7%) and milk (1.2%). The price increase of services was 1.5%, in case of alcoholic beverages and tobacco it was 1.2%, KSH reported.
The price of motor fuels dropped by a year-on-year 10.4%, while the prices of electricity, gas and other fuels dropped by 5.4%. According to KSH, consumers paid 6.5% less for natural gas, 5.7% less for electricity, and 5.3% less for purchased heat compared to the corresponding month of the previous year.
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.