Hungary's inflation rises to 2.3 percent
Meanwhile, Hungarian industrial output fell by an annual 0.5 percent in December 2016, while output for the full year rose by 0.9 percent
Inflation in Hungary has picked up to 2.3 percent, after the Central Statistical Office (KSH) measured annual consumer prices which grew from a 1.8 percent increase in December.
Meanwhile, Hungarian industrial output fell by an annual 0.5 percent in December 2016, while output for the full year rose by 0.9 percent.
According to MTI, London-based emerging market analysts had expected CPI to climb by over 2 percent on the back of a substantial base effect in energy prices.
The National Bank of Hungary said after the release that its measures of underlying inflation “did not indicate any significant change compared to the previous month” in spite of the 0.5 percent rise.
Output of Hungary’s automotive sector, a key driver of industry in the country, fell by an annual 6.9 percent in December.
Output of the computer, electronics and optical equipment segment, another big part of Hungarian industry, climbed by 3.4 percent.