Hungary Inflation


Hungary: Drop in consumer prices softens in April

May 8, 2015

In April, consumer prices rose 0.4% over the previous month, coming in below the 0.6% increase observed in March. The figure reflected higher prices for several categories of the price index, such as food as well as clothing and footwear.

In annual terms, consumer prices decreased 0.3% in April, which was a softer drop than the 0.6% decline observed in the previous month, and represented the smallest fall in eight months. Nevertheless, inflation remains below the Central Bank’s 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, rose 0.3% over the previous month, coming in above March’s 0.2% increase. Meanwhile, annual core inflation rose from March’s 1.0% to 1.2% in April.

In its March inflation report, the Central Bank projects that inflation will be flat on average in 2015. For 2016, the Bank sees inflation averaging 2.6%. FocusEconomics panelists see inflation averaging 0.0% in 2015, which is unchanged from last month’s projection. For 2016, the panel expects inflation to rise to 2.3%.

Author: Teresa Kersting, Economist

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Hungary Inflation Chart

Hungary Inflation April 2015

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

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