Hungary: Inflation drops to two-year low in April
May 8, 2020
Consumer prices fell 0.6% over the previous month in April, contrasting the 0.2% month-on-month increase in March. The reading largely reflected lower prices for services and falling oil prices.
Inflation dropped to 2.4% in April, from 3.9% in the previous month, marking the lowest print since April 2018. Thus, inflation moved below the midpoint of the Central Bank’s target range of 3.0% plus or minus 1.0 percentage point. Meanwhile, core inflation, in seasonally-adjusted terms, was unchanged at March’s 4.3%, while annual average inflation clocked in at 3.5%, down from March’s 3.6% reading.
Author: Hanna Andersson, Economist