Márton Nagy: the inflation data are in line with the government’s expectations

By: Trademagazin Date: 2023. 04. 12. 11:27

The inflation data for March are in line with the government’s expectations, inflation peaked in January and then started to decrease, Minister of Economic Development Márton Nagy told Világgazdaság on Wednesday.

In the article published on vg.hu, the minister recalled that inflation was 25.7 percent in January, 25.4 percent in February, and 25.2 percent in March, “so the improvement is moderate, but continuous and trend-like.”

He noted that the cabinet formulated clear goals even in the economic situation affected by sanctions: they will protect families, pensioners, full employment and utility reduction up to the level of average consumption. In addition, they will avoid recession this year and reduce inflation to single digits by the end of the year, he added.

He drew attention to the fact that supermarket chains are now bidding on each other to announce price reductions, which is increasingly reflected in the data. According to him, partly due to this and partly due to the correction of the supply side, the increase in food prices moderated further in March.

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