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

The Bank of Lithuania allowed AB Bank SNORAS to acquire AB bank “Finasta”

During the meeting, which took place on 3 September 2009 the Bank of Lithuania approved the transaction, according to which AB Bank SNORAS will acquire 100 percent of the shares of AB “Finasta įmonių finansai” owning AB bank “Finasta”. more »

Commission proposes fishing opportunities for the Baltic Sea for 2010

The European Commission tabled yesterday its proposal on fishing possibilities for fish stocks in the Baltic Sea for 2010. more »

European bank data transfers must comply with European standards, say MEPs

Members of the Civil Liberties Committee voiced concern on Thursday over the interim agreement under negotiation between the EU and the United States on data transfers via the SWIFT network. more »

EU invests in building independent consumer magazines and websites in Cyprus, Czech Republic, Hungary, Poland, Romania and Slovenia

Consumers in Cyprus, the Czech Republic, Hungary, Poland, Romania and Slovenia now have access to consumer magazines and websites, which provide independent, comparative testing of consumer products, following a three-year EU project co-financed by the European Commission. more »

“SNORAS Asset Management” will establish renewable energy sources fund

Funds management company “SNORAS Asset Management” will establish the first alternative investment fund in Lithuania - “SAM Renewable Energy Fund”. more »

European innovation policy – successes but also new challenges

The re-launched Lisbon Partnership for growth and jobs has put innovation and entrepreneurship at the centre and called for decisive and more coherent action by the Community and the Member States in view of mastering the shift towards knowledge based low carbon economy. more »

Milk prices: dairy farmers need help now and later, say Agriculture Committee MEPs

Helping dairy farmers now, as well as restructuring the dairy sector in the long run, is the way out of the current milk market crisis, Agriculture Committee MEPs told Agriculture Commissioner Mariann Fischer Boel in a debate on Tuesday. more »

Lights out for traditional bulbs

The EU is phasing out traditional light bulbs over the next three years in favour of a new generation of energy-efficient lighting. more »

Lithuania Raises VAT Rate

Lithuania increases the VAT rate from 19 % to 21 % from September 1, 2009. more »

Thailand Eyes Clean Technology Fund and a Low-Carbon Future

Two recent joint missions from three development finance institutions helped Thailand identify low carbon projects that could be eligible for Clean Technology Fund financing. more »