KSH: Inflation rate 1.8% for July
The much-anticipated report from the Central Statistics Office (KSH) on consumer prices in Hungary over the past month is now available, with the key figure naturally being the headlined 1.8% inflation rate.
That 1.8% mark was significantly lower than analysts had forecast: Dow Jones Newswires yesterday released information it had collected from six bank economists on inflation in Hungary, reckoning that “Hungarian inflation is set to accelerate year-on-year in July” and foresaw KSH announcing a 2.2% rate. Hungarian business daily Napi Gazdaság essentially confirmed Dow Jones’ numbers, guessing the July inflation rate to be set at 2.1%, and today headlined the figures as a “surprise.”
In addition, the announced rate actually proved lower than the 1.9% reported by KSH in June, and month-on-month consumer prices decreased by 0.3%.
KSH attributed the low annual price increase in part to reduced prices of electricity, fuel and durable goods. The butane and propane gas sub-segment saw the biggest price decrease at 6.8%, while prices on recreational services made the largest jump to 6.8%. Year-on-year, prices on electricity, gas and heating services are down some 10% against July 2012.
KSH also reported that the European Union member states averaged a 1.7% increase for June 2013 year-on-year: Romania (4.5%) and Estonia (4.1%) showed the greatest increases, while the lowest rates were seen in Greece (-0.3%), Latvia (-0.2%) and Poland (-0.2%).
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.