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

Parex Bankas is to refinance LTL 19.5 million for small and medium-sized enterprises

Parex Bankas won the tender organised by UAB Investicijų ir Verslo Garantijos regarding the financing of very small, small and medium-sized enterprises, and is to lend LTL 100 million together with other three selected banks. more »

Commission approves aid package for German bank WestLB

The European Commission has approved, under EC Treaty state aid rules, the €5 billion risk shield for German bank WestLB and accompanying measures, following an in-depth investigation opened in October 2008. more »

Capital Requirements Directive - rapporteur Karas interviewed

MEPs have backed new rules to rebuild trust in Europe's battered banks through better financial supervision and risk management. more »

AB Bank SNORAS changes the interest rates on time deposits

Taking into consideration the tendencies in the market, starting from 11 May this year AB Bank SNORAS will change the interest rates on time deposits in Litas, Euro, Great Britain pounds and USA dollars. more »

VW, Porsche in merger talks

Now VW and Porsche who are looking into a merger. more »

Small business, big ideas

First European SME week supports small businesses and encourages entrepreneurship. more »

Twist of fate: $120,000 found at ATM

Officials at an El Paso bank said $120,000 found at an ATM doesn't belong to the bank. more »

MEPs adopt strict conditions for the placing on the market of seal products in the European Union

The placing on the market of seal products should not be allowed say MEPs. It is permitted only where the seal products result from hunts traditionally conducted by Inuit and other indigenous communities. more »

Obama's corporate tax crackdown

President Barack Obama is calling on Congress to overhaul tax policies that he said reward companies for shifting U.S. jobs overseas and allow wealthy people to evade taxes using offshore accounts. more »

Animals used in science, seal ban debated Monday

MEPs will discuss the protection of animals used for science Monday evening along with a proposal to ban the trade in seal products. more »