Hungary inflation hits record high, trade deficit widens

The Central Statistical Office (KSH) said Hungary’s consumer price index rose 21.1% year-on-year in October, up 2% from the previous month.

Household energy and food prices were the main drivers, rising 40% and 64.4% respectively. Prices of durable goods rose 14.9%, while prices of services rose 8.3%. Core inflation, which excludes volatile fuel and food prices, was 22.3%. The CPI calculated for the basket of goods and services used by pensioners was 23.6%.

Hungary’s trade deficit narrowed to €652m in September

Hungary posted a trade deficit of €652 million in September, according to the first reading of Central Statistics Office (KSH) data released on Wednesday. The gap has narrowed from her 1.58 billion in August. Exports increased by 27.5% to €13.214 billion and imports increased by 32.8% to €13.867 billion.

read alsoCrisis: Hungary’s second city runs out of trolleys, drastically cuts down on trams

Trade with other European Union member countries accounted for 76% of Hungary’s exports and 67% of its imports in the month. From January to September, Hungary’s exports increased by 19.6% to 105.132 billion euros, while imports increased by 29.7% to 110.839 billion euros. The trade deficit for this period was 5.77 billion.

Finance Minister: The government has successfully adjusted the budget

Following September’s surplus, the October budget posted a surplus of over HUF 100 billion (€248 million), the third largest October surplus in 20 years, said Finance Minister Mihai Varga. said Wednesday. Varga said on his Facebook budget that in October he posted a surplus of HUF 101.3 billion.

He added that the government is pursuing fiscal discipline in the face of a “sanctions crisis” while ensuring plans to limit energy rates and preserve family interests and pension values.

sauce: MTI Hungary inflation hits record high, trade deficit widens

Show More
Back to top button