Márton Nagy is satisfied with the rate of decrease in inflation

By: Trademagazin Date: 2024. 09. 10. 12:10

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