MNB underlying inflation indicators little changed in March

Food

The National Bank of Hungaryʼs (MNB) "underlying measures of inflation" were little changed in March, in spite of a slowdown in the pace of deflation, data published by the central bank today reveal.

The indicator for core inflation, excluding indirect tax effects, was 1.0% in March, edging down from 1.1% in February.

The indicators for demand-sensitive inflation, which excludes processed foods from core inflation, and for sticky price inflation, which includes items for which retail prices vary, on average, no more than 15% a month, were both unchanged at 1.6% and 2.1%, respectively.

The MNB said the indicatorsʼ levels "continue to show a moderate inflation environment"

Consumer prices in Hungary fell 0.6% year-on-year in March, the Central Statistics Office said earlier today. The decline slowed from a 1.0% drop in February. Seasonally-adjusted core inflation rose 1.0%.

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