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MNB underlying inflation indicators fall in July

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Image by Jessica Fejos

The National Bank of Hungaryʼs (MNB) three "underlying measures of inflation" were lower in July compared to the previous month, as headline CPI edged down, data published by the central bank today reveal, according to Hungarian news agency MTI.

The indicator for core inflation, excluding indirect tax effects, was 1.1% in July after being 1.2% in June.

The indicator for demand-sensitive inflation, which excludes processed foods from core inflation, was 1.9% following 2.0% in June.

The indicator for sticky price inflation, which includes items for which retail prices vary, on average, no more than 15% a month, was 2.1% in July, slightly lower than the 2.3% recorded in June.

Headline inflation was 0.4% year-on-year in July, the Central Statistical Office (KSH) said earlier today, decelerating from a 0.6% increase in June. Seasonally-adjusted core inflation was 1.3%.

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