Hungary’s inflation is EU champion, would be lower if we used euro

The statistical office of the European Union, Eurostat, published the January inflation data of the EU member states. And the numbers are not too good for Hungary.

The EU average is getting better month after month. According to the Eurostat, inflation has been falling in the EU for three months consecutively. At the moment, it is 10 percent. In the eurozone, that number is even smaller, only 8.7 percent.

However, in Hungary, the inflation grew from 25 percent to 26.2 percent between December and January. The only good news is that its growth acceleration stopped in October. Inflation is the lowest currently in Luxembourg (5.8 percent). Hungary is followed by Latvia (21.4 percent) and the Czech Republic (19.1 percent) on the other end of the list, telex.hu wrote.

Read also: Hungary expected to see the highest average annual inflation in the EU this year

Hungary January jobless rate at 3.9 percent

Hungary’s jobless rate was 3.9 percent in January, up from 3.8 percent in the previous month, the Central Statistical Office (KSH) said on Friday.
The rate covers unemployment among people between the ages of 15 and 74. In absolute terms, the number of unemployed was 191,800, 8,300 more than a month earlier and 13,400 more than at the start of 2022.

In January, the number of employed averaged 4,699,000, 46,000 more than a year ago, the KSH said. In the November-January period, the number of employed averaged 4,706,000, 29,000 more than the same period a year before. Employees in the domestic primary labour market increased by 24,000, and the number of employees abroad was up by 14,000, while the number of public sector employees fell by 9,000.