Hungary: Inflation soars in March
Consumer prices increased 0.7% over the previous month in March, up from February’s 0.6% increase. March’s rise was mainly driven by higher prices for food, and alcoholic beverages and tobacco. Core consumer prices, meanwhile, rose 0.4% (February: +0.5% month-on-month).
Inflation jumped to 3.7% from 3.1% in February, approaching the upper bound of the Central Bank’s target range of 3.0% plus or minus 1.0 percentage point. Moreover, core inflation climbed to 3.9% from 3.5% in February.
Lastly, annual average inflation inched up to an over five-year high of 3.1% in March from February’s 3.0%.