Hungary Inflation


Hungary: Inflation hits five-month high in November

December 10, 2015

In November, consumer prices recorded flat growth over the previous month, which followed October’s 0.2% increase. The print mainly reflected price increases for food as well as for clothing and footwear were offset by falling prices for services.

Inflation rose to a five-month high in November, increasing from October’s 0.1% to 0.5%. Inflation remains far below the Central Bank’s target of 3.0%, with a tolerance margin of plus/minus 1.0%. Core consumer prices, which exclude volatile items such as fresh food and fuel, tallied flat growth over the previous month (October: +0.4% month-on-month). Meanwhile, core inflation inched down from 1.5% in October, which had marked the highest reading since August 2014, to 1.4% in November.

The Central Bank projects that there will be zero inflation in 2015. For 2016, the Bank sees inflation averaging 1.9%. FocusEconomics panelists see inflation averaging 0.1% in 2015, which is unchanged from last month’s projection. For 2016, the panel expects inflation to rise to 2.0%, which is down 0.2 percentage points from last month’s estimate.

Author: Angela Bouzanis, Senior Economist

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Hungary Inflation Chart

Hungary Inflation November 2015

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

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