Hungary Inflation December 2015


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%.

The Central Bank projects inflation averaging 1.9% in 2016. FocusEconomics panelists see inflation averaging 1.9% in 2016, which is unchanged from last month’s projection. For 2017, the panel expects inflation to rise to 2.7%.

Author: Angela Bouzanis, Lead Economist

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Hungary Inflation Chart

Hungary Inflation December 2015 0

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

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