Hungary Inflation June 2016


Hungary: Consumer prices maintain downward trend in June

July 8, 2016

In June, consumer prices rose 0.2% over the previous month, which was slightly down from May’s 0.3% rise. The moderate increase mainly reflected a higher price for services as well as for clothing and footwear, which offset lower food prices.

In annual terms, consumer prices fell 0.2% in June, matching May’s result. 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 0.3% in May to 0.2% in June. Core consumer prices, which exclude volatile items such as fresh food and fuel, remained unchanged over the previous month, in line with May’s reading. Meanwhile, core inflation fell from May’s 1.3% to 1.2% in June.

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 June 2016 0

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

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