Hungary Inflation


Hungary: Consumer prices in September drop in annual terms

October 8, 2015

In September, consumer prices fell 0.6% over the previous month, which mirrored August’s reading. The print mainly reflected that lower prices for food and services more than offset higher prices for clothing and footwear.

Consumer prices dropped 0.4% in annual terms, while they had been unchanged in August. As a result, the annual variation in prices dropped further below the Central Bank’s inflation target of 3.0%, with a tolerance margin of plus/minus 1.0%. Core consumer prices, which exclude volatile items such as fresh food and fuel, declined 0.2% over the previous month, contrasting August’s flat reading. Meanwhile, annual core inflation inched down from August’s 1.2% to 1.1% in September.

FocusEconomics panelists see inflation averaging 0.3% in 2015, which is unchanged from last month’s projection. For 2016, the panel expects inflation to rise to 2.5%.

Author: Teresa Kersting, Economist

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Hungary Inflation Chart

Hungary Inflation September 2015

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Hungarian Central Statistics Office.

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