Hungary Inflation


Hungary: Inflation records flat reading in August

September 8, 2015

In August, consumer prices fell 0.6% over the previous month, which was down from July’s flat reading. The print mainly reflected lower prices for electricity, gas and other fuels, as well as for clothing and footwear.

Inflation registered a flat reading in August, which was down from July’s 0.4%. 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, were unchanged over the previous month, coming in below July’s mild 0.2% increase. Meanwhile, annual core inflation inched down from July’s 1.3% to 1.2% in August.

In its June inflation report, the Central Bank projects that inflation will average 0.3% in 2015. For 2016, the Bank sees inflation averaging 2.4%. FocusEconomics panelists see inflation averaging 0.3% in 2015, which is unchanged from last month’s projection. For 2016, the panel expects inflation to rise to 2.5%.

Author: Teresa Kersting, Economist

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Hungary Inflation Chart

Hungary Inflation August 2015

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

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