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MNB: Underlying inflation indicators fall

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The Hungarian central bank today said that two of its three "underlying measures of inflation" fell in November: the indicator for core inflation, excluding indirect tax effects, was 1.2% in November down from October’s 1.4%, while the indicator for demand-sensitive inflation, which excludes processed foods from core inflation, was at 1.6% in November, down from October’s 1.7%.

Today the Central Statistics Office KSH said that he Consumer Price Index (CPI) in Hungary fell by a y.o.y 0.7% in November, while emerging market analysts in London earlier projected November's CPI at negative 0.5%.

"The levels of the measures continue to indicate a moderate inflation environment," the National Bank of Hungary (MNB) said in a monthly analysis. The MNB attributed the decline in headline CPI in November to the fall in the price of vehicle fuel.

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