Hungary: Inflation steady in January
Consumer prices rose 0.3% month-on-month in January, coming in above the flat reading observed in December. January’s print reflected higher prices for food products, and alcoholic beverages and tobacco.
Inflation in January remained steady at the 2.1% print seen in December. It therefore remained within the Central Bank’s target band of 3.0% plus or minus 1.0 percentage point. Annual average inflation came in at 2.3% in January, unchanged from December.
Core consumer prices, which exclude volatile items such as fresh food and fuel, rose from the flat reading observed in December to a 0.3% month-on-month increase in January. Lastly, core inflation moderated slightly from December’s 2.6% to 2.5% in January.