Hungary: Inflation decelerates in November
Consumer prices dropped 0.3% over the previous month in November, contrasting October’s 0.5% month-on-month increase. November’s decline was driven by lower prices for services and motor fuels.
Inflation decreased to 3.1% in November from a near six-year high of 3.8% in October, thus approaching the Central Bank’s target range of 3.0% plus or minus 1.0 percentage point. Annual average inflation remained stable at an over five-year high of 2.8% in November.
Core consumer prices, which exclude volatile items such as fresh food and fuel, grew 0.1% from the previous month in November, down from October’s 0.5% increase. Lastly, core inflation remained stable at October’s 2.6% in November.