In July, consumer prices decreased 0.1% over the previous month, which contrasted the 0.1% rise seen in June but still was above market expectations that had prices falling 0.2%. The monthly price drop was broad-based, with prices for most categories decreasing over the previous month, particularly for clothing and footwear. Annual headline inflation rose from 5.6% in June to 5.8% in July, which came in above market expectations that had inflation remaining at 5.6%. Consequently, inflation continued to move further above the Central Bank's inflation target of 3.0% with a 1.0 percentage point tolerance margin. Meanwhile, the seasonally adjusted core inflation index, which excludes volatile items such as food and fuel, added 0.4% over the previous month, pushing annual core inflation to 5.1% in July. In its latest inflation report from June, the Central Bank projects inflation to end the year at 4.8% before gradually falling to 3.5% by the end of 2013.
Inflation continues to rise in July
August 14, 2012
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Hungary Inflation Chart
Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Hungarian Central Statistics Office.
Hungary Economic News
October 11, 2016
In September, consumer prices rose 0.2% from the previous month, contrasting August’s 0.4% decrease.
October 7, 2016
According to preliminary data released by the Statistical Institute (KSH) on 7 October, industrial output in August rose a working-day adjusted 3.5% from the same month last year, rebounding from July’s 0.1% decrease and marking a four-month high. On a monthly basis, industrial production increased a seasonally- and working-day adjusted 1.6% in August, which followed July’s 0.3% decrease.
September 26, 2016
The GKI economic sentiment indicator advanced slightly from August’s minus 3.9 points, which was the lowest reading in over two years, to the still-low level of minus 3.6 points in September.
Hungary: Central Bank leaves base rate at 0.90%, continues easing monetary conditions by capping main deposit facility
September 20, 2016
The Central Bank of Hungary (NBH) held all rates constant at its 20 September monetary policy meeting, but continued easing monetary policy conditions by using unconventional monetary policy instruments.
September 9, 2016
In August, consumer prices fell 0.4% over the previous month, coming in below July’s softer 0.2% decrease.