Inflation in Hungary
Hungary - Harmonized Inflation (end of period)
Inflation hits close to six-year high in October
Consumer prices rose 0.5% over the previous month in October, up from September’s 0.3% month-on-month increase. October’s increase was largely driven by higher prices for food; alcoholic beverages and tobacco; and clothing and footwear, owing to seasonal factors.
Inflation increased to a nearly six-year high of 3.8% in October from 3.6% in September, thus moving further above the midpoint of the Central Bank’s target range of 3.0% plus or minus 1.0 percentage point. Inflation has now remained within the target band since June 2017, except for February 2018 when it slipped slightly below the target. Annual average inflation rose to an over five-year high of 2.8% in October from September’s 2.6%.
Core consumer prices, which exclude volatile items such as fresh food and fuel, grew 0.5% from the previous month in October, up from September’s 0.2% increase. Lastly, core inflation edged up from 2.4% in September to 2.6% in October.
Hungary Inflation Forecast
Met the why particular 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%.
Hungary - Harmonized Inflation (eop) Data
|Inflation Rate (HICP, annual variation in %, eop)||0.6||-0.9||1.0||1.8||2.2|
5 years of economic forecasts for more than 30 economic indicators.
Hungary Harmonized Inflation (eop) Chart
Source: Hungarian Central Statistical Office (KSH).
|Bond Yield||3.29||0.0 %||Nov 29|
|Exchange Rate||284.0||-0.68 %||Nov 29|
|Stock Market||39,862||0.04 %||Nov 29|
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November 26, 2018
The GKI economic sentiment index, a composite indicator, rose to 7.5 points in November from 7.2 points in October.
November 20, 2018
At its latest monetary policy meeting held on 20 November, the Monetary Council of the Hungarian National Bank (MNB) left the base rate unchanged at its current record low of 0.90%, while also holding steady all other monetary policy instruments.
November 14, 2018
The Hungarian economy continued to expand robustly in the third quarter.
November 13, 2018
According to revised data released by the Hungarian Central Statistical Office (KSH) on 13 November, industrial output rose a working-day adjusted 2.2% year-on-year in September.
November 8, 2018
According to the first estimate released by the Hungarian Central Statistical Office (KSH) on 8 November, industrial output increased a working-day adjusted 2.2% year-on-year in September, down from August’s revised 4.6% yoy rise (previously reported: +4.5% year-on-year). In month-on-month, seasonally and working-day adjusted terms, industrial production contracted 2.1%, contrasting a revised 3.9% increase in August (previously reported: +3.8% month-on-month).