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CPI Could Reach Single Digits by October - Minister

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Hungary's inflation rate could drop into the single digits by October or November, Gergely Gulyás, the head of the Prime Minister's Office, said on Thursday, according to a report by state news wire MTI.

"We can see the light at the end of the tunnel," Gulyás said at a talk at the 32nd Balvanyos Summer Free University and Student Camp in Baile Tusnad, Romania.

Hungary's CPI rose 20.1% year-on-year in June, falling for the fifth month in a row after peaking at 25.7% in January.

The government has pledged to bring inflation down to the single digits by year-end.

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