Hungary: Inflation edges up in October to a multi-year high
November 8, 2016
In October, consumer prices rose 0.6% from the previous month, which followed September’s 0.2% increase. The increase reflected higher prices for several categories, including clothing and footwear, food, and other goods.
Inflation picked up from 0.6% in September to 1.0% in October, marking the highest reading since September 2013. Despite October’s increase, inflation remains below the Central Bank’s target of 3.0%, with a tolerance margin of plus/minus 1.0%. Annual average inflation in October inched up from September’s 0.2% to 0.3%.
Core consumer prices, which exclude volatile items such as fresh food and fuel, rose 0.5% from the previous month, which contrasted the 0.1% drop observed in September. Meanwhile, core inflation inched up from 1.4% in September to 1.5% in October.