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Nowhere in the European Union was the inflation rate in August as high as in Hungary, according to the Central Statistical Office, prices increased by 3.9 percent on average compared to August 2019. Therefore, after July, Hungarian inflation will remain high in the EU in August.
In addition, 3.9 percent hit the ceiling of Magyar Nemzeti Bank’s 3 percent plus / minus 1 percent inflation target. It is not yet known whether the MNB will intervene and, if so, to what extent.
The statistical office of the EU, Eurostat, calculated a Hungarian inflation figure slightly above 4% and, according to its statements, the rise in prices in the eastern states of the Union is rapid, but the Hungarian figure also stands out. By the way, the Hungarians are followed by inflation data for Poland, the Czech Republic, Romania and Slovakia.
However, the EU average inflation is only 0.4%, so low because deflation of 0.2% has been measured in the euro area. (Briefcase)
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