Hungary Inflation


Hungary: Inflation hits three-month high in October

November 10, 2015

In October, consumer prices rose 0.2% over the previous month, which contrasted September’s 0.6% fall. The print mainly reflected higher prices for food as well as for clothing and footwear.

Inflation rose to a three-month high in October, tallying 0.1%. The result contrasted the 0.4% fall in annual consumer prices in September. 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, rose 0.4% over the previous month (September: -0.2% month-on-month). Meanwhile, core inflation accelerated from 1.3% in September to 1.5% in October, which marked the highest reading since August 2014.

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 down 0.1 percentage points from last month’s projection. For 2016, the panel expects inflation to rise to 2.2%, which is also down 0.1 percentage points from last month’s estimate.

Author: Angela Bouzanis, Senior Economist

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Hungary Inflation Chart

Hungary Inflation October 2015 1

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

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