Minister: Inflation drops “beyond expectations” in Hungary
Hungary’s annual consumer price index was 3.7 percent in June, the Central Statistical Office (KSH) said on Tuesday. Month on month, consumer prices were flat and food prices dropped by 0.3 percent.
Márton Nagy, the national economy minister, said the government’s targeted measures had reduced inflation “beyond expectations”. He said some of those measures, including the online price monitoring system, would boost retail competition and ensure low inflation in the long run.
Commenting on KSH’s figures, the minister said consumer prices in general had not changed from the previous month. Moreover, the price of food was 0.3 percent lower month on month.
The minister said low inflation had triggered “a positive chain reaction” in the economy that would increasingly benefit households and businesses alike. He said low inflation was reflected in increasing real wages and consumption, while retail trade has been on the up and up for the fifth month in a row.
Nagy also noted a dynamic increase in mortgage uptake, the portfolio having grown by 2.5 times in the first five months of 2024.
Read also:
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Let’s focus on data and facts instead of spin.
Challenge: find Hungary on the list and compare our inflation with other European Union Members?
https://www.inflation.eu/en/inflation-rates/cpi-inflation.aspx
Oh, dear. One of the highest. Ah! The pride! On the winner’s podium, baby! At least, Hungary’s performance is predictable.
3.7% just another lie. Every week things are getting more expensive by more than that. Maybe it is time to lower the VAT on water and electricity which is 27%. On the other hand on new houses it’s only 5%.
The removal of CAPPING, in the past weeks, by the Orban – Fidez Government.
It’s HAPPENED since it’s ending and WILL grow, that will factually see that INFLATION, has just been a “Sleeping Tiger” that now starts to RISE it’s Head – feed into – have HUGH impact on INFLATION in Hungary.
It’s HAPPENING.