Hungary Inflation January 2016


Hungary: Inflation rests at over-two-year high in January

February 26, 2016

In January, consumer prices fell 0.1% over the previous month, which followed December’s 0.3% decrease. The less pronounced decline reflected rising prices for food, while prices for electricity, gas and other fuels dropped.

Inflation rested at December’s over-two-year-high of 0.9% in January. Inflation remains 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 0.3% over the previous month (December: -0.2% month-on-month). Meanwhile, core inflation inched up from December’s 1.4% to 1.5%.

FocusEconomics panelists see inflation averaging 1.4% in 2016, which is down 0.1 percentage points from last month’s projection. For 2017, the panel expects inflation to rise to 2.5%.

Author: Angela Bouzanis, Lead Economist

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Hungary Inflation Chart

Hungary Inflation January 2016 0

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

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