ADVERTISEMENT

KSH: Hungary’s CPI keeps dropping in August

Figures

pixabay

Hungary’s consumer price index (CPI) continued dropping in August, following the trend of the past few months, a first release of data published today by the Central Statistical Office (KSH) reveals.

CPI was 0.1% lower on average in August compared to the same month a year earlier, while dropping by 0.4% on average compared to the previous month. 

In year-on-year comparison, Hungarians paid 0.6% more for food in August 2016. The price of sugar increased by 24.3%, edible oil by 7.8% and seasonal food items by 6.4%, while while pork prices were cut by 11.6%, eggs by 5.5% and milk by 4.6%.

Alcoholic beverages and tobacco became 1.9% more expensive year-on-year. Services were 1.1% and clothing and footwear 0.6% dearer on average in August compared to a year earlier, while prices of consumer durables were unchanged, the KSH said.

Consumers paid 4.1% less for other goods in August compared to the same month a year earlier, within which they paid 11.4% less for motor fuels, while prices of electricity, gas and other fuels were reduced by 0.1%, the KSH reported.

Compared to the previous month, Hungarians paid 0.3% less for food in August, which was mainly due to a 4.7% decrease in prices of seasonal food items, the KSH comments. Prices of alcoholic beverages and tobacco were up by 0.1% on average, while consumers paid 0.1% more for services as well. Prices of electricity, gas and other fuels, as well as consumer durables, were unchanged overall. 

Consumer prices rose by 0.1% on average in the first eight months of 2016 compared to January-August 2015.

ADVERTISEMENT

Digitization, sustainability among characteristics of future... Analysis

Digitization, sustainability among characteristics of future...

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

Magyar Bankholding chairman to serve as CEO as well Appointments

Magyar Bankholding chairman to serve as CEO as well

ITM, capital gov't agree on support for public transport City

ITM, capital gov't agree on support for public transport

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.