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May 09, 2019

Hungary's CPI rises to 3.9 percent in April

KSH has announced that the rate of consumer price inflation in Hungary accelerated to 3.9 percent in April from 3.7 percent the previous month

The Central Statistical Office (KSH) has announced that the rate of consumer price inflation in Hungary accelerated to 3.9 percent in April from 3.7 percent the previous month.

According to MTI, prices rose by 0.9 percent in April after a 0.7 percent rise in March.

Core inflation growth, which excludes volatile food and fuel prices, stayed unchanged at a seasonally adjusted 3.8 percent, the more than 6-year peak rate it picked up to in March.

The figures show that twelve-month headline inflation was the highest measured since December 2012 and the month-on-month rise was the steepest since January 2012.

Assessing inflation prospects after a rate-setting meeting on April 30th, the National Bank of Hungary Monetary Council said inflation “will fluctuate around” the 3 percent central bank target in the coming quarters, while the measure of core inflation excluding indirect tax effects is “expected to continue to rise until the autumn months and then to decline from the end of 2019”.