Food Inflation Could Drop to 5-8% by December
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In July 2023, food price increases in Hungary continued to fall, to around 23% year-on-year, and overall food prices were almost 1% cheaper than in June, according to an article by profitline.hu.
If the current trend continues, food inflation could fall to 5-8% on an annual basis by December, analysts at MBH Bank's Agri-Food Business said, reacting to inflation data released by the Central Statistical Office (KSH) earlier this week.
Food in Hungary cost 23.1% more in July 2023 than in the same period of 2022.
This is the biggest annual rate decline this year, with the annual rate of price increases in June at 29.3%, the article notes.
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