In December, consumer prices climbed 0.4% over the previous month. The reading came in a notch above last month's 0.3% price increase, but well above the flat reading tallied in December 2009. As a result, annual inflation jumped from 4.2% in November to 4.7%, exceeding market expectations that inflation would reach 4.5%. Harmonised inflation followed suit and rose from 4.0% to 4.6%. The most important drivers behind December's price rise were higher fuel prices (+4.3% month-on-month) as well as increased prices for clothing and footwear (+1.0% mom). Moreover, as in previous months, inflation was also fanned by above-average food prices. Consequently, seasonally adjusted core inflation, which excludes volatile items such as food and fuel, added a more subdued 0.2% over the previous month, driving annual core inflation to 2.0%. In its latest inflation report from November, the Central Bank raised year-end inflation expectations above its 3.0% target to 3.8 %.
Inflation ends the year above expectations
January 14, 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.