MNB measures of underlying inflation little changed in Nov

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The National Bank of Hungary’s (MNB) measures of underlying inflation were “broadly unchanged” in November from the previous month, the central bank said today, according to Hungarian news agency MTI. “The measures continue to indicate a moderate inflation environment,” the MNB said.

“Households’ inflation expectations have been largely unchanged in recent months and remained at moderate levels, in line with low underlying inflation developments,” it added.

In November, changes in the prices of demand-sensitive products and more volatile and cost-sensitive items, such as food and energy, as well as government measures all pointed to higher prices, the MNB said. It noted that regulated prices rose slightly, mainly reflecting the increase in gambling prices.

Hungary’s state-owned lottery company Szerencsejáték raised the price of its most popular games by HUF 25 to HUF 250 early in November.

The indicator for core inflation, excluding indirect tax effects, was 1.4% in November, now unchanged for the third month in a row. The indicator for demand-sensitive inflation, which excludes processed foods from core inflation, was 1.4%, down slightly from October. The indicator for sticky price inflation, which includes items for which retail prices vary, on average, no more than 15% a month, was 1.7%, down from 1.8% in the previous month.

Consumer prices rose 1.1% year-on-year in November after a 1% increase in the previous month, KSH reported Thursday morning. KSHʼs seasonally adjusted core inflation picked up to 1.5% from 1.4% in October.

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