Hungary Inflation Rate Slows to 43-Year Low in December

In December of 2013, Hungary’s annual inflation rate slowed to 0.4 percent, the lowest rate in more than 40 years, mainly due to a sharp fall in utilities' prices. Core inflation rate which excludes food and fuel remained unchanged at 3.5 percent.

Year-on-year, food prices rose 0.1 percent, lower than 0.4 percent in December. Price increase were observed for cheese (8.5 percent), milk (6.3 percent) and pasta (3.0 percent). Price decreased were seen for flour (18.8 percent), egg (14.2 percent), edible oil (13.2 percent) and sugar (11.3 percent). 

Cost of water charges, sewerage disposal and refuse disposal decreased around 11 percent, local transport grew by 4.9 percent. Consumers paid 0.7 percent more for motor fuels; 1.6 percent less for consumer durable goods and 1.1 percent less for clothing and footwear. 

In the case of electricity, gas and other fuels prices decreased 17.7 percent: electricity (-20.1 percent), natural gas (-20.0 percent) and purchased heat (- 18.7 percent).

On a monthly basis, prices fell for the third straight month by 0.5 percent.

Hungary Inflation Rate Slows to 43-Year Low in December

Hungarian Central Statistical Office | Joana Taborda |
1/15/2014 1:28:24 PM