In July, consumer prices dropped 0.3% over the previous month, which came in below the 0.2% price drop recorded in June. The monthly price decline was mainly the result of lower food prices (-1.2% month-on-month) as well as for clothing and footwear (-2.5% mom), owing to the summer sales. On the back of the subdued monthly reading, annual headline inflation declined for the third month in a row, falling from 3.5% in June to 3.1% in July. The print marked the lowest level since March 2009 and beat market expectations that had inflation falling to 3.3%. Meanwhile, seasonally-adjusted core inflation, which excludes volatile items such as food and fuel, accelerated from 3.0% to 3.2%. In its latest inflation report from June, the Central Bank anticipates year-end inflation at 3.9%, which is above the 3.0% inflation target.
Inflation falls to the lowest level in over two years
July 11, 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.