In September, consumer prices added 0.4% over the previous month, which was above both the 0.1% increase seen in August and market expectations of a 0.2% increase. The monthly increase was the result of higher prices for food as well as for clothing and footwear. Annual headline inflation rose from 6.0% in August to 6.6% in September, the highest level since July 2008, which exceeded market expectations of a softer 6.3% rate. 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 0.2% over the previous month. Annual core inflation edged up from 5.1% in August to 5.3% in September.
Inflation hits highest level in over four years
October 11, 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 25, 2016
The Central Bank of Hungary continues to employ unconventional measures to support growth and prop up inflation in the country.
October 24, 2016
The GKI economic sentiment indicator edged down from minus 3.6 points in September to minus 4.5 points in October.
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.