Higher Fuel Prices Add 0.6-0.7 pp to CPI
Photo by CC7 / Shutterstock.com
Higher motor fuel prices have added 0.6-0.7 percentage points to headline inflation, the National Economy Ministry said in a statement on Tuesday, according to a report by state news wire MTI.
The ministry noted that prices at the pump were up 11pc for petrol and 13pc for diesel compared to a year earlier. Consumers' response to the higher prices has been sensitive, reducing demand and impeding the recovery of consumption, it added.
Assessments show spending on motor fuel is among the most significant expenditure items of households, in addition to food and healthcare, the ministry said.
It also pointed to government measures, including regulated utility prices, mandatory discounts at supermarkets, and a food price monitoring platform, that have brought inflation down.
EUR 1.691 bln Trade Surplus an All-time High
Gov't Acknowledges Drop in Motor Fuel Prices
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
