When the Hungarian delegation informed the spring meetings a year earlier of the government's intent to bring CPI back to the single digits by the end of the year, investors responded "with scepticism", Tibor Tóth said.
The fact that inflation dropped into the single digits by October and reached 3.7% and 3.8% by early 2024 was acknowledged at this year's spring meetings, he added.
Hungary's headline CPI reached the 3% +/-1 pp tolerance band of the National Bank of Hungary (MNB) in January after peaking at 25.7% a year earlier, supported by government measures and central bank monetary policy.
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