Hungary Inflation


Inflation eases in October

In October, consumer prices fell 0.3% over the previous month, which contrasted the 0.5% increase recorded in September. According to the statistical office, the monthly figure was the result of a decrease in prices for transportation and health care, as well as for housing, water, electricity, gas and other fuels.

Annual headline inflation eased from 1.4% in September to 0.9% in October and undershot the 1.4% increase the markets had expected. Inflation remains well below the Central Bank's target of 3.0% with a tolerance margin of plus/minus 1.0%.

The core inflation index, which excludes volatile items such as fresh food and fuel, rose 0.2% over the previous month. Meanwhile, annual core inflation edged down from 3.5% in September to 3.4% in October.

In its September inflation report, the Central Bank projected that inflation will end 2013 at 2.0% and rise to 2.4% by the end of 2014. FocusEconomics panelists see year-end inflation at 3.3%, which is down 0.3 percentage points over last month's projection. Next year, the panel expects inflation to inch up to 3.4%, which is down 0.2 percentage points from last month's estimate.

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Hungary Inflation Chart

Hungary Inflation October 2013

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Hungarian Central Statistics Office.

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