Czech, Hungarian, Polish Inflation Is Slowing

Published: 12 July 2005 y., Tuesday

Hungarian and Czech consumer prices were probably little changed in June and Polish prices fell as the strength of the nations' currencies held down import costs and economic growth faltered, surveys of economists showed.

Hungarian prices rose 0.1 percent in the month, according to the median forecast in a Bloomberg survey of seven economists on June 22 to July 7. Czech prices gained 0.3 percent after a 0.2 percent advance in May, while Polish inflation slowed to 0.2 percent from 0.3 percent, surveys showed. The Hungarian and Czech figures are due at 9 a.m. today. Poland reports on July 14.

Inflation in the three eastern European economies, which account for 80 percent of the gross domestic product of the 10 states that joined the European Union last year, is slowing after their economies grew at the slowest pace in at least a year in the first quarter. Government spending cuts are squeezing state- regulated wages, while retailers cut prices to lure shoppers.

Slowing inflation will help the EU newcomers meet terms to adopt the euro by the end of the decade, as targeted by the three governments. To switch to the common currency, they must keep their annual inflation rates within 1.5 percentage points of the average 12-month rate of the three EU countries with the slowest inflation. The target in May was 2.2 percent.

Šaltinis: Bloomberg
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.

Facebook Comments

New comment


Captcha

Associated articles

The most popular articles

Gas Coordination Group discusses security of gas supply in the light of the current winter situation in Europe

In its first meeting in 2010, the Gas Coordination Group, under the chairmanship of the Commission, has focused today on the assessment of the situation on security of gas supply in the EU-27 and countries of the Energy Community and discussed priorities for the work of the Group in 2010. more »

Van den Brande welcomes Van Rompuy's commitment to multilevel approach to economic recovery

Luc Van den Brande, President of the EU Committee of the Regions (CoR), has used his first meeting with the President of the European Council, Herman Van Rompuy, to underline the importance of consultation between local, regional and national authorities. more »

Cameroon Firms Look to Hydro to Help Close the Power Gap

Basile Nkwesi, Directeur Commercial of Multiprint, speaks for dozens of frustrated business managers in this busy enterprise center when he talks about Cameroon’s costly and unreliable electricity. more »

In 2009 Bank SNORAS attracted 2400 new corporate clients

During 2009, over 2400 new corporate clients, whose total number currently exceeds 16 thousand, began using Bank SNORAS services. more »

Spain: in 2009 the EIB provided EUR 2.5 billion to finance SME and municipality projects

In 2009, the European Investment Bank (EIB) provided EUR 2.5 billion in 16 credit lines for financing the investment projects of SMEs (EUR 1 955 million) and local authorities (545 million) in Spain. more »

Euro coin counterfeiting in 2009

In 2009, the number of counterfeit euro coins removed from circulation was 172 100, down from 195 900 the year before. more »

Haiti Begins Participation in the IMF’s General Data Dissemination System

Haiti began participating in the International Monetary Fund’s General Data Dissemination System on December 28, 2009, marking a major step forward in the development of its statistical system. more »

In 2009 the price of Bank SNORAS shares grew by 163 per cent

According to the data of NASDAQ OMX Vilnius Stock Exchange, the price of Bank SNORAS registered ordinary shares grew by more than 2.5 times. more »

Commission clears proposed acquisition of Cadbury by Kraft Foods, subject to conditions

The European Commission has cleared under the EU Merger Regulation the proposed acquisition of Cadbury PLC of the UK by Kraft Foods Inc. of the US by way of public offer. more »

Changes in construction input prices in November 2009

Statistics Lithuania informs that construction input prices inNovember 2009, against October, dropped by 0.5 percent. more »