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. .
Author: Nihad Ahmed, Economist