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

MEPs secure overhaul of EU financial regulation

The financial and economic crisis has shown that reckless behaviour of banks and other financial institutions can have serious and costly consequences for Europe's economy and its people. more »

MEPs back unspent money for local energy & transport investment

Local services that create jobs and improve energy efficiency received a boost Thursday (2 September) when MEPs on the Industry, Research and Energy Committee approved plans for more investment. more »

The European Union approves EUR 264 million to help 19 African, Caribbean and Pacific States face the consequences of the economic crisis

The European Commission approved the first financing decisions under the EUR 264 million 2010 allocation for the so-called Vulnerability FLEX mechanism to help the most vulnerable African, Caribbean and Pacific countries cope with the impact of the global financial crisis and economic downturn. more »

Commission adds two Ghanaian airlines to the EU list of air carriers subject to an operating ban

The European Commission has today updated the list of airlines banned in the European Union to impose an operating ban on one air carrier from Ghana and to place operating restrictions on another air carrier from that country. more »

€7.5 million of EU funds to help 951 former workers in marine manufacturing in Denmark find new jobs

The European Commission today approved an application from Denmark for assistance under the European Globalisation adjustment Fund (EGF). more »

Commissioner Šemeta visits China to boost cooperation in custom controls and tackling counterfeit goods

Algirdas Šemeta, EU Commissioner for Taxation, Customs Union, Anti-Fraud and Audit, will open tomorrow an international conference at the Shanghai World Expo 2010 on building bridges to facilitate trade between China and the EU. more »

€90 million EU grant to crisis-hit Moldova approved by EP Trade Committee

Moldova is set to receive an EU grant of up to €90 million to help it through the financial crisis, following a vote at Parliament's Committee on International Trade on Monday. more »

August 2010: Business Climate Indicator for the euro area remains broadly unchanged

Important notice: since May 2010 business surveys data are classified in accordance with an updated version of the Nomenclature of Economic Activities (NACE rev. 2) causing a potential break in series at this date. more »

Spring 2010 Eurobarometer: EU citizens favour stronger European economic governance

75% of Europeans think that stronger coordination of economic and financial policies among EU Member States would be effective in fighting the economic crisis, according to the Spring 2010 Eurobarometer, the bi-annual opinion poll organised by the EU. more »

State aid: Commission extends the Slovenian bank liquidity support scheme

The European Commission has extended until the end of the year the liquidity support scheme for banks in Slovenia. more »