Hungary Inflation August 2020

Hungary

Hungary: Inflation hits highest level in five months in August

September 8, 2020

Consumer prices were unchanged from the previous month in August, down from July's 1.10% jump. August's figure was the lowest reading since April and largely reflected a downturn in prices for food.

Inflation rose to 3.9% in August, above July’s 3.8%. August's reading marked the highest inflation rate since March. Meanwhile, the trend was stable, with annual average inflation coming in at July’s 3.4%. Lastly, core inflation rose to 4.7% from the previous month's 4.5%, marking the highest reading in over seven years.

FocusEconomics panelists see inflation averaging 3.0% in 2020, which is up 0.1 percentage points from last month’s projection. For 2021, the panel sees inflation averaging 2.9%.


Author: Massimo Bassetti, Senior Economist

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Hungary Inflation August 20 20

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


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