Hungary: Inflation moderates in July
August 11, 2015
In July, consumer prices were unchanged over the previous month (June: +0.2% month-on-month). The print reflected that lower prices for food and for clothing and footwear were offset by higher prices for services and alcoholic beverages and tobacco.
Inflation receded from June’s 0.6%, which had marked the highest reading since November 2013, to 0.4% in July. As a result, inflation dropped further 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 0.2% over the previous month, coming in slightly above June’s 0.1% increase. Meanwhile, annual core inflation inched down from June’s 1.4% to 1.3% in July.