NGM: the fight against inflation has entered a new phase

By: Trademagazin Date: 2024. 01. 12. 12:16

The fight against inflation entered a new phase after the rate of currency deterioration in Hungary dropped to a significantly lower than expected level in December, said the chief economist of the Ministry of National Economy (NGM) at his press conference on Friday.

Based on the inflation data published on Friday, Gergely Suppan believes that the government has reached its goal set by the end of 2023. According to the report of the Central Statistical Office (KSH), consumer prices in December increased by an average of 5.5 percent compared to the same period in 2022, and decreased by an average of 0.3 percent compared to November.

The rate of domestic currency deterioration is now lower than in the Czech Republic, Poland or Romania, added the NGM expert.