Hungary's consumer prices remained unchanged y/y in January 2014, after increasing 0.4% y/y in December 2013, the statistics office said. The reading was below market expectation for a 0.2% y/y growth. On a monthly basis, consumer prices in the country increased by 0.3%, reversing from a monthly drop in the previous three months.
The figures in January were largely due to the government's decision in November 2013 to cut utility prices resulting in a 16.9% y/y drop in prices of electricity, gas and other fuels.
Prices of consumer durable goods extended their downward trend, falling by 0.8% on the year, reflecting continued weak household demand. Prices of clothing and footwear saw a 0.7% y/y fall in January, slightly smaler than December’s drop of 1.1% y/y. Food prices also swung into a 0.2% y/y decline in the month. Prices of motor fuels decreased by 0.6% y/y.
On the other hand, prices of alcohol beverages and tobacco products rose by 10.5% y/y, after a 12% y/y hike in December. Costs of services advanced by 3.1% y/y in January, slower that the 3.7% y/y increase a month earlier.
Finland has issued a second and final permit for the construction of the controversial Nord Stream II pipeline that is to pump gas from Russia directly to Germany via a Baltic Sea route, the Regional ... more
Three large German companies have chosen to invest in Debrecen, Hungary's second-largest city, since Lufthansa launched its first direct flight two years ago, it was announced on April 11. ... ... more
Green opposition party Politics Can Be Different (LMP) has suspended talks with fellow opposition parties after they failed to reach a cooperation agreement ahead of the April general election. ... more