Hungary Inflation March 2016

Hungary

Hungary: Inflation moderates in March

April 11, 2017

In March, Hungarian consumer prices remained unchanged from the previous month, down from February’s 0.4% month-on-month increase. The result mainly reflected higher prices for clothing and footwear offsetting lower prices for motor fuels and alcoholic beverages and tobacco.

Inflation decreased from 2.9% in February to 2.7% in March. This leaves inflation within the Central Bank’s target of 3.0% with a tolerance margin of plus/minus 1.0%. Annual average inflation edged up from 0.7% in February to 1.0% in March.

Core consumer prices, which exclude volatile items such as fresh food and fuel, edged down from 0.3% in February to 0.1% in March. Lastly, core inflation came in at 1.9% in March, slightly above February’s 1.8% print.

The Central Bank forecasts inflation of 2.6% in 2017 and of 3.0% in 2018. FocusEconomics panelists see inflation averaging 0.4% in 2017, which is unchanged from last month’s projection. For 2018, the panel expects inflation to rise to 1.8%.


Author: Jean-Philippe Pourcelot, Economist

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Hungary Inflation Chart


Hungary Inflation March 2017

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


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