Hungary: Consumer prices continue to decline in August
September 9, 2016
In August, consumer prices fell 0.4% over the previous month, coming in below July’s softer 0.2% decrease. The decline mainly reflected lower prices for food, clothing and footwear.
In annual terms, consumer prices fell 0.1% in August, which followed July’s 0.3% decline. The reading met market expectations. Inflation is well below the Central Bank’s target of 3.0%, with a tolerance margin of plus/minus 1.0%. Annual average inflation rested at July’s 0.1% in August. Core consumer prices, which exclude volatile items such as fresh food and fuel, were flat over the previous month, while they had increased 0.2% in July. Meanwhile, core inflation held steady at July’s 1.3% in August.