Inflation in Hungary. Strong decline

CPI inflation was 12.2% in Hungary in September. on an annual basis, compared to 16.4 percent a month earlier. This is the eighth consecutive decline, but the country is still the disgraceful leader in this respect among EU countries.

The Hungarian Central Statistical Office (KSH) reported that CPI inflation in September amounted to 12.2 percent in this country. year to year, compared to 16.4 percent in August. This reading is slightly lower than market expectations (12.5%).

Inflation in Hungary. Still an inglorious leader

Although this is the eighth consecutive month of decline in the annual CPI dynamics in Hungary, and until recently inflation remained around 20 percent, Budapest still remains the inglorious leader in this respect when it comes to EU countries. As we have already informed, according to Eurostat, inflation in Hungary amounted to 14.2 percent in August. On the other side is Denmark with a reading of 2.3%. Spain and Belgium also have low inflation (2.4% each). The EU average is 5.9%.

The Bankier.pl website points out that the strong annual decline in CPI inflation in Hungary was accompanied by a significant monthly price increase last month. The Hungarian CPI was 0.4 percent in September. higher than in August, when it increased by 0.7%, and in July it increased by 0.3%. relative to June.

Last month, food prices were 15.2 percent higher. higher than a year ago, but also by 0.2 percent. lower than in August. However, a strong deflation was recorded in the case of energy, which was 14.6%. cheaper than a year ago, gas prices dropped by 33.5%. on an annual basis, firewood by 18.7%, and electricity by 3.2%. However, the portal reminds that these declines occurred after a massive price increase in 2022. As much as 35.4 percent fuel prices were higher than a year ago, which is the result of the administrative price reduction at gas pumps, which was in force in Hungary until December last year and was suddenly abolished due to shortages.

Inflation in Poland

Let us recall that according to preliminary data from the Central Statistical Office (GUS), inflation in Poland amounted to 8.2 percent in September, compared to 10.8 percent. in August. The final data for the previous month will be released next Friday.