In November, consumer prices added 0.3% over the previous month, which came in a notch below last month's price increase. As in October, the most important driver behind the monthly price hike was higher food prices (+1.1% month-on-month). As a result of the monthly reading, annual inflation remained unchanged at 4.2%, which matched market expectations. Seasonally adjusted annual core inflation, which does not consider volatile items such as food and fuel, inched up from 1.8% in October to 1.9%. In contrast, harmonised inflation dropped from 4.3% in October to 4.0%. Currently, the Central Bank anticipates inflation will continue above its medium-term target of 3.0% in the coming years. In fact, in its latest inflation report from November, the Central Bank raised its inflation expectations for this year from 3.6% to 4.9%, while for 2011 the Bank sees inflation ending the year at 4.0%.
Inflation remains strong amid higher food prices
December 10, 2010
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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.