In March, consumer prices added 1.1% over the previous month, which was well above the subdued 0.4% price hike recorded in February. Moreover, as the figure nearly doubled the 0.7% month-on-month rise observed in March last year, annual inflation jumped to 4.5% (February: 4.1%), overshooting market expectations of a 4.2% increase. As in previous months, the increase mostly reflected higher prices for food, which rose 2.0% over the previous month, while higher prices for clothing and footwear also contributed to the robust reading. Meanwhile, seasonally adjusted core inflation, which excludes volatile items such as food and fuel, rose 0.8% over the previous month, driving annual core inflation to 2.5% (February: 1.9%). In its latest inflation report from March, the Central Bank raised its year-end inflation forecast to 3.9%, further above its 3.0% target. Next year, the Bank sees year-end inflation falling to 3.0%.
Inflation rises in March, driven by higher food prices
April 12, 2011
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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.