Hungarian Inflation Jumps on Fuel Prices Too

2021. március 10.

ING Think

Hungarian headline inflation jumped in February, as was widely expected given the oil price moves and the weakening forint. But tougher months are indeed ahead of us. 

After three months of stability at 2.7% year-on-year, Hungarian headline inflation jumped in February 2021. As a result of the 0.7% average price increase over the month, the yearly inflation reading moved to 3.1% YoY. The change looks favourable due to rounding effects, but if we're precise, we should say that inflation moved 0.48 percentage points higher - broadly in line with market consensus and there are no surprises in the structure of the change.