MNB inflation indicators up in Feb, but still ‘broadly unchanged’
shutterstock
Measures of underlying inflation of the National Bank of Hungary (MNB) rose, but were still "broadly unchanged" in February compared to the previous month, the central bank said in a monthly assessment on Wednesday, Hungarian news agency MTI reported.
The indicator for core inflation, excluding indirect tax effects, was 1.8% in February, rising from 1.6% in the previous month. The indicator for demand-sensitive inflation, which excludes processed foods from core inflation, was 1.6%, edging up from 1.5%; while the indicator for sticky price inflation, which includes items for which retail prices vary, on average, no more than 15% a month, rose from 1.7% to 1.9%.
Despite the increases, the MNB noted that the indicators "are still within the 1.5-2.0% range."
Hungaryʼs headline CPI rose 2.9% year-on-year in February from 2.3% in January, the Central Statistical Office (KSH) said earlier Wednesday. Seasonally adjusted core inflation, which excludes volatile fuel and food prices, was up 1.8%.
"In February, changes in the prices of more volatile items with greater sensitivity to cost changes, i.e. food and energy, had an upward effect on prices. Looking ahead, the price index will decrease in spring due to base effects," the MNB said.
"Households’ inflation expectations have been broadly unchanged in recent months and remain at moderate levels, in line with underlying inflation developments," it added.
Companies Spending Less on Advertising
Gov't Calls on Fuel Companies to Adjust Prices to Regional A...
Spar Magyarország Revenue Climbs Close to 16% in 2023
Hungary Launches HUF 15 bln Tourism Sector Support Program
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
