Hungary Inflation July 2016


Hungary: Consumer prices maintain downward trend in July

August 9, 2016

In July, consumer prices fell 0.2% over the previous month, which contrasted June’s 0.2% increase. The decline mainly reflected lower prices for food, clothing and footwear.

In annual terms, consumer prices fell 0.3% in July, which marked the largest drop in ten months and followed June’s 0.2% decline. Thus, inflation remained below the Central Bank’s target of 3.0%, with a tolerance margin of plus/minus 1.0%. Annual average inflation inched down from 0.2% in June to 0.1% in July. Core consumer prices, which exclude volatile items such as fresh food and fuel, rose 0.2% over the previous month, while they had been unchanged in June. Meanwhile, core inflation remained at June’s 1.2% in July.

FocusEconomics panelists see inflation averaging 0.6% in 2016, which is unchanged from last month’s projection. For 2017, the panel expects inflation to rise to 1.9%.

Author: Teresa Kersting, Economist

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Hungary Inflation Chart

Hungary Inflation July 2016 1

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

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