Hungary Inflation December 2019

Hungary

Hungary: Inflation jumps to seven-year high in December

January 14, 2020

Consumer prices increased 0.3% over the previous month in December, after rising 0.1% month-on-month in November. The reading reflected higher prices for food, alcoholic beverages and tobacco, and motor fuels.

Inflation rose to 4.0% in December from 3.4% in November, marking the highest reading in seven years, and thus landed on the upper ceiling of the Central Bank’s target range of 3.0% plus or minus 1.0 percentage point. Meanwhile, core inflation, in seasonally-adjusted terms, ticked down to 3.9% in December from November’s 4.0%.

Lastly, annual average inflation came in at 3.4% in December, up from November’s reading of 3.2%.

FocusEconomics panelists see inflation averaging 3.2% in 2020, which is up 0.1 percentage points from last month’s projection. For 2021, the panel sees inflation averaging 3.1%.


Author:, Economist

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Hungary Inflation Chart


Hungary Inflation December 2019

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


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