Hungary Inflation January 2019


Hungary: Inflation stable in January

January 15, 2019

Consumer prices rose 0.3% over the previous month in January, reverting December’s 0.3% drop. January’s increase was driven by higher prices for food, and alcoholic beverages and tobacco, which more than offset lower prices for clothing and footwear—which dropped due to the end-of-season sale.

Inflation was stable at December’s 2.7% in January, thus remaining within the Central Bank’s target range of 3.0% plus or minus 1.0 percentage point. Meanwhile, annual average inflation inched up to an over five-year high of 2.9% in January, from 2.8% in December.

Core consumer prices, which exclude volatile items such as fresh food and fuel, grew 0.4% from the previous month in January, up from December’s 0.2% uptick. Lastly, core inflation rose to a five-year high of 3.2% in January from December’s 2.8%.

FocusEconomics panelists see inflation averaging 2.7% in 2019, which is unchanged from last month’s projection. For 2020, the panel expects inflation to moderate to 2.6%.

Author: Massimo Bassetti, Senior Economist

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Hungary Inflation Chart

Hungary Inflation January 2019

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

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