Hungary Inflation July 2019

Hungary

Hungary: Inflation dips slightly in July

August 8, 2019

Consumer prices rose 0.2% over the previous month in July, contrasting a 0.2% month-on-month fall in June. A surge in the price of tobacco and recreational services drove the upturn, more than offsetting lower prices for consumer durables and motor fuels.

Inflation inched down to 3.3% in July from 3.4% in June, creeping closer to the midpoint of the Central Bank’s target range of 3.0% plus or minus 1.0 percentage point. Similarly, core inflation, in seasonally-adjusted terms, dipped to 3.7% from 3.8% in the previous month.

Lastly, annual average inflation remained at an over five-year high of 3.4% in July. .

FocusEconomics panelists see inflation averaging 3.4% in 2019, which is up 0.1 percentage points from last month’s projection. For 2020, the panel sees inflation averaging 3.1%.


Author:, Economist

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Hungary Inflation July 2019

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


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