Hungary Inflation June 2021

Hungary

Hungary: Inflation at close to nine-year high in June

July 8, 2021

Consumer prices rose 0.60% from the previous month in June, following May's 0.50% increase. June's figure largely reflected soaring prices for services.

Inflation remained moved to 5.3% in June from 5.2% in, marking the strongest rise since October 2012, and therefore moving further above the upper bound of the Central Bank’s target range of 3.0% plus or minus 1.0 percentage point. Meanwhile, the trend moved higher, with annual average inflation coming in at 3.7% from May’s 3.5%. Lastly, core inflation rose to 3.8% from the previous month's 3.4%.

FocusEconomics panelists see inflation averaging 3.8% in 2021, which is up 0.1 percentage points from last month’s projection. For 2022, the panel sees inflation averaging 3.2%.


Author: Massimo Bassetti, Senior Economist

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Hungary Inflation June 2021 0

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Hungarian Central Statistics Office.


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