Hungary: Inflation jumps to seven-year high in December
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%.