In January, consumer prices added 0.7% over the previous month. The print came in slightly above December's 0.4% price rise but nearly at half the 1.4% increase tallied in January 2010. As a result, annual inflation plummeted from 4.7% in December to 4.0%, below market expectations that had inflation at 4.3%. HICP inflation followed suit and dropped from 4.6% to 4.0%. According to the Central Statistics Office (KSH), the monthly reading was the result of higher prices for food (+1.9% month-on-month) that were partly offset by lower prices for clothing (-3.0% mom). Meanwhile, seasonally adjusted core inflation, which excludes volatile items such as food and fuel, added a more subdued 0.1% over the previous month, driving annual core inflation to 1.7% (December: 2.0%). In its latest inflation report from November, the Central Bank raised its year-end inflation expectations above the previous 3.0% target to 3.8%.
Inflation moderates markedly in January
February 15, 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.