Food Prices Continued to Rise in September
Partly as a result of supply shortages and rising demand for wheat and palm oil, world food prices continued to rise in September.
Adam
Economy
Retail Sales Grow By 4.6% in August
Retail sales in Hungary rose by an annual 4.6% in August, the Central Statistical Office (KSH) said on Wednesday. The increase accelerated from 2.5% in the previous month.
Industrial Output Growth Slows to 2.6% in August
Industrial output in Hungary rose by an annual 2.6% in August, continuing to slow as the global chip shortage impacted the local automotive industry, the Central Statistical Office (KSH) said on Wednesday.
Rate-Setters Point to Persistence of Upside Risks Surrounding Inflation Outlook
Hungarian central bank (NBH) policymakers have warned of the risks associated with persistent inflation and agreed that a tightening cycle that started in July should be continued on a monthly basis, though at a slower pace.
“Rushed Introduction of Euro Could Hurt Hungary’s Growth”
A rushed adoption of the euro that ignores differences in the levels of economic development between Hungary and the euro zone could sacrifice Hungary’s growth and even pose risks to its stability, a member of the central bank’s Monetary Council said on Wednesday.
“Allocate 2% of National Income Towards Averting Economic Losses Due to Climate Change”
By allocating 2% of Hungarian national income towards establishing a sustainable economy, any future economic losses related to climate change can be offset, President János Áder told news channel M1 on Wednesday.
Hungary Borrows EUR 183 BN From AIIB for Health-Care Development
Hungary has concluded an agreement with the Asian Infrastructure Investment Bank (AIIB) on the provision of 183 million euros to fund developments in Hungarian health care, Finance Minister Mihály Varga said on Wednesday.
Szijjártó Sees Hope for Compromise on Global Minimum Tax
At an OECD meeting in Paris on Wednesday, the Hungarian government submitted a proposal aimed at finding a compromise solution to the introduction of a global minimum corporate tax which Hungary has reservations over, according to the Hungarian foreign affairs and trade minister.
Fuel Prices to Rise Again
According to holtankoljak.hu, fuel prices are about to rise again during the second half of the week.
“EU Approval of Hungarian Recovery Programme Hindered By Political Considerations”
Hungary’s programme for post-pandemic economic recovery meets the criteria laid down previously in all respects but its approval is being hindered by the European Commission’s “politically motivated” considerations, Finance Minister Mihály Varga said after meeting his EU counterparts in Luxembourg on Tuesday.