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Officially Now 3.6%: Inflation in Hungary Has “Collapsed” to One-Seventh of Last Year’s Rate, Says Minister

• 12 Apr 2024 6:22 AM
• Hungary Matters

Annual inflation in Hungary was 3.6% in March, the Central Statistical Office (KSH) said. Month on month, prices rose by 0.8%.

Food prices edged up by 0.7%, while household energy prices went down by 3.1%.

Motor fuel prices increased by 2.3%. Services prices increased by 9.9%, while consumer durables went down by 1.8%.

Commenting on the data, Márton Nagy, the national economy minister, said inflation had “disappeared just as fast as it emerged”, arguing that CPI had “collapsed” to one-seventh of last year’s rate.

In addition to the base effects, the decline in inflation was also impacted by the lower repricing rates at the beginning of the year, Nagy said.

Full report by KSH available here

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Launched in January 2014, this newsletter published on week days covers 'everything you need to know about what’s going on in Hungary and beyond', according to its publisher the state media agency MTI.

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