NGM: moderate inflation in Hungary

A moderate inflation environment can be found in Hungary for two and a half years. This helps in the conservation of wages and pensions values – the Deputy Minister of State of the Ministry of National Economy (NGM) told M1 news channel on Tuesday.

According to the most recent notification of the Central Statistical Office (KSH) consumer prices were 0.3 percent lower in July, than a year ago.

Balogh László emphasized that the inflation rate near 0 percent is mainly due to the low world market prices of oil and partly due to the reduced VAT on pork took place at the beginning of the year. (MTI)