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Hungary Inflation February 2021

Hungary: Inflation rises in February

Consumer prices jumped 0.51% from the previous month in February, following January’s 0.70% increase. February’s figure largely reflected higher prices for good, services and consumer durables.

Inflation rose to 3.1% in February from January’s 2.7%. Meanwhile, the trend pointed down, with annual average inflation coming in at 3.1% in February from 3.2% in January. Lastly, core inflation inched down to 4.1% from the previous month’s 4.2%.

Commenting on the release, Peter Virovacz, senior economist at ING, stated:

“Regardless of this impact, inflation is expected to pick up in the coming months due to the low base and elevated oil prices. According to our current forecast, headline CPI may temporarily jump to the 4-4.5% YoY range in April–May.”

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