Hungary: Inflation hits over-two-year high in December
January 26, 2016
In December, consumer prices fell 0.3% over the previous month, which marked a three-month low (November: 0.0% month-on-month). The print mainly reflected a fall in prices for food. In contrast, prices for electricity, gas and other fuels as well as services were broadly unchanged.
Inflation rose to an over-two-year-high in December, increasing from November’s 0.5% to 0.9%. Despite the rise, inflation remains 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, fell 0.2% over the previous month (November: 0.0% month-on-month). Meanwhile, core inflation was stable at November’s 1.4%.