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Hungary’s July High Inflation Rate Second Only to Romania in EU

Ábrahám Vass 2019.08.23.

Romania is the only country where the statistical office of the European Union (Eurostat) measured a higher annual inflation rate in July than in Hungary.

After Romania (4.1%) and Hungary (3.3%), the highest annual rates were registered in Latvia and Slovakia (both 3.0%) while the lowest annual rates were registered in Portugal (-0.7%), Cyprus (0.1%), and Italy (0.3%).

In the European Union, annual inflation was 1.4% in July 2019, down from 1.6% in June. A year earlier, this rate was 2.2%.

HVG notes that although Hungary’s July annual inflation rate shows a decrease in comparison to earlier months of the year, it is predominantly due to fuel prices going down, while food, alcohol and tobacco became a lot more expensive.

featured image: Pixabay