FOREX TradingCharts.com

Financial News: Hungary Inflation Eases To 3.4%, Lowest In 42

Hungary Inflation Eases To 3.4%, Lowest In 42 Months

09/10/2024 - 08:35:00 (RTTNews)

(RTTNews) - Hungary's consumer price inflation slowed in August to the lowest level in three-and-a-half years, the Hungarian Central Statistical Office said on Tuesday.

Consumer prices climbed 3.4 percent year-on-year in August, slower than the 4.1 percent rise in July. Economists had expected inflation to ease to 3.6 percent.

The latest inflation was the weakest since February 2021, when prices had risen 3.1 percent.

With this, the inflation has now moved closer to the to the central bank's target of 3.0 percent.

Data showed that core inflation also eased marginally to 4.6 percent from 4.7 percent a month ago.

"The further moderation in inflation was partly due to the stagnation of the average price level on a monthly basis and the high base from last year," Peter Virovacz, a senior Hungarian economist at ING, said.

"The door is now open for a September rate cut by the central bank," the economist added.

Food price inflation moderated to 2.4 percent from 2.7 percent in July. A 4.3 percent continued fall in utility costs also had a dampening effect on inflation.

Meanwhile, costs for services surged 9.5 percent, and those for clothing and footwear were up 4.5 percent.

On a monthly comparison, consumer prices remained flat in August versus a 0.6 percent rise a month ago.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2024 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


U.S. Consumer Sentiment Index Unexpectedly Decreases In October (06 hr(s), 47 min(s), 09 sec(s) ago)
(RTTNews) - A report released by the University of Michigan on Friday showed an unexpected deterio ...Full Story»

U.S. Producer Prices Unexpectedly Flat In September, Annual Growth Slows Modestly (07 hr(s), 11 min(s), 09 sec(s) ago)
(RTTNews) - With a decrease in prices for goods offsetting an increase in prices for services, the ...Full Story»

U.S. Producer Prices Unexpectedly Unchanged In September (08 hr(s), 56 min(s), 09 sec(s) ago)
(RTTNews) - With a decrease in prices for goods offsetting an increase in prices for services, the ...Full Story»

India Industrial Output Shrinks 0.1% In August (08 hr(s), 59 min(s), 09 sec(s) ago)
(RTTNews) - India's industrial production declined slightly in August, largely led by weaker m ...Full Story»

Turkey Retail Sales Growth Strongest In 5 Months (11 hr(s), 53 min(s), 09 sec(s) ago)
(RTTNews) - Turkey's retail sales increased at the quickest pace in five months in August, the ...Full Story»

Romania Inflation Eases To 4.6%, Lowest In Over 3 Years (12 hr(s), 47 min(s), 09 sec(s) ago)
(RTTNews) - Romania's consumer price inflation moderated further in September to the lowest le ...Full Story»

UK Economy Returns To Growth (13 hr(s), 08 min(s), 09 sec(s) ago)
(RTTNews) - The UK economy returned to growth in August but the pace of expansion was weaker than ...Full Story»

Swiss Consumers Less Pessimistic In September (13 hr(s), 30 min(s), 09 sec(s) ago)
(RTTNews) - Confidence among Swiss consumers remained less negative in August, survey results from ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. Consumer Sentiment Index Unexpectedly Decreases In October

10/11/2024 - 10:46 AM (RTTNews)
(RTTNews) - A report released by the University of Michigan on Friday showed an unexpected deterio ...Full Story>>

U.S. Producer Prices Unexpectedly Flat In September, Annual Growth Slows Modestly

10/11/2024 - 10:22 AM (RTTNews)
(RTTNews) - With a decrease in prices for goods offsetting an increase in prices for services, the ...Full Story>>

U.S. Producer Prices Unexpectedly Unchanged In September

10/11/2024 - 08:37 AM (RTTNews)
(RTTNews) - With a decrease in prices for goods offsetting an increase in prices for services, the ...Full Story>>

India Industrial Output Shrinks 0.1% In August

10/11/2024 - 08:34 AM (RTTNews)
(RTTNews) - India's industrial production declined slightly in August, largely led by weaker m ...Full Story>>

Turkey Retail Sales Growth Strongest In 5 Months

10/11/2024 - 05:40 AM (RTTNews)
(RTTNews) - Turkey's retail sales increased at the quickest pace in five months in August, the ...Full Story>>

Do not sell my personal information

Copyright © 2024. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.