Márton Nagy is satisfied with the rate of decrease in inflation
As in the previous months, inflation remained at a low level in line with market expectations in August – Minister of National Economy Márton Nagy evaluated the latest data in his statement on Tuesday.
Based on the latest data from the Central Statistical Office, inflation in August 2024 reached 3.4 percent year-on-year. In addition to the moderate and favorable development of annual inflation, consumer prices did not change compared to the previous month, i.e. July 2024.
The announcement recalled: on an annual basis, the price of household energy became cheaper by 4.3 percent, of which piped gas became cheaper by 9.4 percent, electric energy by 1.7 percent, and the price of vehicle fuels decreased by 2.9 percent.
In a monthly comparison, it can be highlighted that compared to the previous month, food prices did not change on average, but at the same time, within food, eggs went up by 2.3 percent, dry pasta by 1.7 percent, sausages and sausages by 1.4 percent, while seasonal foods (potatoes , fresh vegetables, fresh domestic and southern fruit in total) cost 1.2 percent less. All of these can have a positive effect on the development of consumption.
In his statement, the minister noted: the disinflation of food prices is caused by a significant drop in agricultural producer prices, which predicts that prices in some food product lines may still decrease in the coming months, which may further strengthen the
Related news
OKSZ: Margin stop sweeps inflation under the transparent carpet
According to three-quarters of the population, food prices are rising…
Read more >The Ministry of National Economy links economic growth to peace
As long as the war lasts, this growth rate is…
Read more >Chicken is getting more expensive, eggs are getting more expensive – this is what awaits Hungarian consumers now
A significant price increase has taken place on the domestic…
Read more >Related news
EU Sees 2% Growth In Ice Cream Production In 2024: Eurostat
Ice cream production in the EU increased by 2% year-on-year…
Read more >Oatly Is Launching A Ready-To-Drink Matcha Latte Oat Milk This Summer
Oatly is the latest plant-based milk brand to launch a…
Read more >The Hungarian Central Statistical Office (KSH) reported better-than-expected GDP data
In Q2 2025, Hungary’s GDP figures published by the HCSO…
Read more >