August was again a month with subdued and highly favourable inflation in Hungary. In comparison to the corresponding period of the previous year, consumer price inflation was flat. In the initial eight months of 2015, consumer prices fell by 0.2 percent year-on-year.

Following a month-on-month increase of 0.4 percent in July, price pressure slackened in August. Falling oil prices and the third phase of public utility price cuts were the main determinants behind the overall change in prices.

Every economic stakeholder, including employees, pensioners and enterprises, can benefit from a modest inflationary environment.

For the entire year of 2015, inflation is expected to be around 0 percent, as predicted by the Convergence Programme, and data published hitherto are in line with expectations of the Ministry for National Economy.

(Ministry for National Economy)