KSH: inflation was 0.4 percent in December

Consumer prices increased by an average of 1.7 percent in 2013. Consumer prices in December were 0.4 percent higher than a year before. Consumer prices decreased by 0.5 percent compared to November – the Central Statistical Office (KSH) reported on Wednesday.

London financial analysts expected an average inflation of 0.4 percent for December.
Such a low annual increase in consumer prices occurred the last time in March 1970, 43 years ago – Mináry Borbála, Head of Department at KSH said. She added that the December decline is clearly the result of the newest overhead reduction introduced on 1 November, as a substantial part of it occurred in the December price index. (MTI)