Hungary Inflation January 2017

Hungary

Hungary: Inflation soars in January to almost four-year high

January 1, 1970

In January, consumer prices rose 0.4% from the previous month, matching the print observed in December. The increase reflected higher prices for most categories, including food, and alcoholic beverages and tobacco.

Inflation jumped from 1.8% in December to 2.3% in January, marking the highest reading since February 2013. With the increase, inflation is now within the the Central Bank’s target of 3.0%, with a tolerance margin of plus/minus 1.0%. Annual average inflation in January inched up from 0.4% in December to 0.5%.

Core consumer prices, which exclude volatile items such as fresh food and fuel, edged up from a flat reading in December to a 0.2% increase in January. Lastly, core inflation came in at 1.6% in January, slightly below December’s 1.7% print.

FocusEconomics panelists see inflation averaging 2.2% in 2017, which is up 0.2 percentage points from last month’s projection. For 2018, the panel expects inflation to rise to 2.7%.


Author: Jean-Philippe Pourcelot, Economist

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Hungary Inflation Chart


Hungary Inflation January 2017

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


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