Hungary Inflation August 2018

Hungary

Hungary: Inflation stable at over five-year high in August

August 8, 2018

Consumer prices rose 0.1% over the previous month in August, down from July’s 0.3% month-on-month print. August’s increase was largely driven by higher prices for services, which more than offset lower prices for clothing and footwear due to the summer sale.

Inflation was stable in August at July’s over five-year high of 3.4%, remaining above the midpoint of the Central Bank’s target range of 3.0% plus or minus 1.0 percentage point. February was the only month since June 2017 in which inflation fell outside the target band. Annual average inflation in August, meanwhile, was stable at July’s 2.5%.

Core consumer prices, which exclude volatile items such as fresh food and fuel, were unchanged in August from the previous month, down from July’s 0.4% increase. Lastly, core inflation edged down from 2.5% in July to 2.3% in August.

FocusEconomics panelists see inflation averaging 2.4% in 2018, which is down 0.1 percentage points from last month’s projection. For 2019, the panel expects inflation to rise to 2.7%.


Author: Massimo Bassetti, Economist

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Hungary Inflation Chart


Hungary Inflation August 2018

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


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