JP Morgan: Hungary may face deflation until Q3 2015

EU

Analysts say most EU and Central and Eastern European countries will face deflation in the first half of this year, vg.hu reported on Saturday. The London-based emerging markets analysts of the leading American investment bank JP Morgan see the sharp fall of oil prices as the main reason for the falling inflation rate in Europe. 

The analysts predict that the average yearly price of a barrel of Brent oil will be $55 in 2015, down from their previous forecast of $70 for the first half of 2015. In January the average price will be as low as $50 a Brent barrel according to their latest report. Hungary will be most sharply affected in the region by the falling oil price, the analysis added.

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