Hungary's consumer prices edged up by 0.1% y/y in March 2014, rising at the same pace as in the previous month, 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 0.2%, slightly faster than the 0.1% m/m rise in February.
As in the previous month, the reading in March was largely due to the government's decision in November 2013 to cut utility prices resulting in a 10% y/y drop in prices of electricity, gas and other fuels.
Prices of consumer durable goods extended their downward trend, falling by 0.2% on the year in March, reflecting continued weak household demand. Prices of clothing and footwear dropped by 0.4% y/y in March, following a 0.2% y/y decrease in February. Prices of motor fuels decreased by 1.1% y/y. Food prices dropped only marginally y/y in March.
On the other hand, prices of alcohol beverages and tobacco products rose by 7.9% y/y, easing from a 8.1% y/y hike in February. Costs of services advanced by 1.8% y/y in March, slower that the 2.1% y/y increase a month earlier.
|Consumer prices, % y/y|
|Alcoholic beverages, tobacco||14.8||12.0||10.5||8.1||7.9|
|Clothing and Footwear||-0.4||-1.1||-0.4||-0.2||-0.4|
|Consumer durable goods||-2.3||-1.6||-0.8||-0.6||-0.2|
|Electricity, gas and other fuels||-7.7||-17.7||-16.9||-10.3||10.0|
|Other goods incl. motor fuels and lubricants||2.6||0.9||-0.6||-1.5||-1.1|
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