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MNB underlying inflation measures change nominally in August

Food

The National Bank of Hungaryʼs (MNB) three "underlying measures of inflation" were little changed in August, even as headline CPI fell to zero, data published by the central bank on Tuesday reveal, according to news agency MTI.

The indicator for core inflation, excluding indirect tax effects, was 1.0% in August, down from 1.1% in the previous month. The indicator for demand-sensitive inflation, which excludes processed foods from core inflation, was 1.8%, slipping from 1.9%; and the indicator for sticky price inflation, which includes items for which retail prices vary, on average, no more than 15% a month, rose to 2.2% from 2.1%.

The MNB said the indicatorsʼ levels "continue to show a moderate inflation environment". Headline inflation was 0% year-on-year in August, the Central Statistical Office (KSH) said earlier on Tuesday, down from a 0.4% increase in July. Seasonally-adjusted core inflation was 1.2%.

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