Hungary Inflation May 2016

Hungary

Hungary: Inflation moderates in May

June 19, 2017

In May, consumer prices increased 0.2%, coming in below the 0.4% increase observed in April. The result mainly reflected higher prices for clothing and footwear, services and food.

Inflation in May moderated for the third consecutive month from 2.2% in April to 2.1%. Inflation now remains slightly above the Central Bank’s target of 3.0% with a tolerance margin of plus/minus 1.0%. Despite the drop, annual average inflation edged up from 1.2% in April to 1.3% in May.

Core consumer prices, which exclude volatile items such as fresh food and fuel, edged up from 0.2% in April to 0.5% in May. Lastly, core inflation came in at 1.9% in April, matching the print observed in the previous month.

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 May 2017

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


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