Hungarian CPI Falls Below 4% Tolerance Band of MNB After 34 Months

2024. február 14.

bne IntelliNews

Inflation in Hungary dropped from 5.5% to 3.8% (chart) in January, falling below the 4% tolerance band of the National Bank for the first time in 34 months. Compared to December, consumer prices rose by 0.7%.

Core inflation excluding indirect tax effects – a bellwether indicator of underlying inflation – fell to 6.1% in January from 7.6% in December.

CPI has fallen sharply after peaking at 25.7% a year earlier. Disinflation gathered momentum in the second half of the year due to tight monetary policy, subdued domestic demand and lower energy and raw material prices.


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