Hungary: Inflation climbs in January
February 13, 2020
Consumer prices increased 0.9% over the previous month in January, after rising 0.3% month-on-month in December. The print reflected higher prices for food, alcoholic beverages and tobacco, motor fuels, and services.
Inflation surged to 4.7% in January, from 4.0% in December, marking the highest reading in over seven years, and thus landed above the upper ceiling of the Central Bank’s target range of 3.0% plus or minus 1.0 percentage point. Meanwhile, core inflation, in seasonally-adjusted terms, inched up to 4.0% in January, from December’s 3.9%.
Annual average inflation came in at 3.5% in January, up from December’s reading of 3.4%.
Author: Hanna Andersson, Economist