Hungary Inflation November 2018

Hungary

Hungary: Inflation decelerates in November

December 11, 2018

Consumer prices dropped 0.3% over the previous month in November, contrasting October’s 0.5% month-on-month increase. November’s decline was driven by lower prices for services and motor fuels.

Inflation decreased to 3.1% in November from a near six-year high of 3.8% in October, thus approaching the Central Bank’s target range of 3.0% plus or minus 1.0 percentage point. Annual average inflation remained stable at an over five-year high of 2.8% in November.

Core consumer prices, which exclude volatile items such as fresh food and fuel, grew 0.1% from the previous month in November, down from October’s 0.5% increase. Lastly, core inflation remained stable at October’s 2.6% in November.

FocusEconomics panelists see inflation averaging 2.7% in 2019, which is unchanged from last month’s projection. For 2020, the panel expects inflation to moderate to 2.6%.


Author: Massimo Bassetti, Economist

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Hungary Inflation Chart


Hungary Inflation November 2018 0

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


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