In August, consumer prices dropped 0.1% over the previous month, which came in above the 0.3% price drop observed in July. As in the previous month, the price drop was mainly driven by lower prices for food (-1.1% month-on-month) as well as for clothing and footwear (-2.6% mom). That said, the monthly drop came in well above the 0.6% decline tallied in the same month last year, pushing annual headline inflation up from 3.1% in July to 3.6% in August. In contrast, seasonally-adjusted core inflation, which excludes volatile items such as food and fuel, moderated from 3.2% in July to 3.1%. 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 but within the 1.0 percentage point tolerance margin.
Inflation jumps in August
September 13, 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.