Wednesday , April 14 2021

Inflation in Hungary has been accelerating for almost six years



Consumer prices in Hungary increased last year by 3.8% year-on-year. In September, prices rose 3.6%, and economists expected growth in October.

Budapest, November 8 (TASR) – The inflation rate in Hungary has risen in October, reaching the highest level in almost six years. The Hungarian Statistical Office reported yesterday on the release of preliminary data.

Consumer prices in Hungary increased last year by 3.8% year-on-year. In September, prices rose 3.6%, and economists expected growth in October.

This figure is important for economists, especially because the latest inflation rate is considerably higher than the expectations of the central bank, said economist ING Bank Peter Virovacz. As he added, the central bank's estimate suggested an inflation rate of 3.3%. Moreover, over the last three months, the bank's inflation forecast averaged 0.23 percentage points.

Nuclear inflation, which does not include unstable food and energy prices, reached 2.6% in October. Even in this case, consumer price inflation accelerated when in September it rose by 2.2%.

Monthly consumer price prices rose by 0.5%. Again, the data exceeded estimates by economists forecasting a monthly increase in consumer prices by 0.3%.


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