Hungary: Inflation climbs in February
Consumer prices increased 0.6% over the previous month in February, up from January’s 0.3% increase. February’s rise was driven by higher food prices, which offset stable fuel costs and end-of-season clothing and footwear sales. Core consumer prices, meanwhile, rose 0.5% (January: +0.4% month-on-month).
Inflation jumped to 3.1% from 2.7% in January, closing in on the Central Bank’s target range of 3.0% plus or minus 1.0 percentage point. Moreover, core inflation climbed to 3.5% from 3.2% in January.
Lastly, annual average inflation inched up to an over five-year high of 3.0% in February.