Analysts: CPI slowing unexpected, consolidation continues

Analysis

Analysts queried by Hungarian news agency MTI said that the slowing growth of CPI to a year-on-year 0.4% in July as reported by the Central Statistical Office (KSH), was unexpected and consolidation of the core inflation is expected to continue, MTI said today.

Dávid Németh of K&H Bank told MTI that the July data was not unexpected, underlying inflationary trends are unchanged as is their inflation forecast.

Takarékbank analyst Gergely Suppan said inflation was slightly below expectations and in the next few months CPI could drop to close to 0% on falling fuel prices.

ING Bank senior analyst András Balatoni told the news agency that consolidation of the core inflation continues. Higher retail sales give bigger freedom for companies in setting their prices and economic growth will probably strengthen inflationary pressure.

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