ADVERTISEMENT

MNB puts core inflation at 3.5% in 2013, 3.8% in ’14

MNB

The National Bank of Hungary projects core inflation, which excludes volatile fuel and food prices, to average 3.5% in 2013 and 3.8% in 2014, the central bank said in its latest quarterly Inflation report, published yesterday. 

The forecasts for 2013 and 2014 were lowered from 3.8% and 4.2% in the previous report, published in June.

The MNB put core inflation excluding the indirect effects of taxes at 1.7% in 2013 and 2.8% in 2014, down from 1.9% and 3.1%, respectively, in the earlier report. The report's main projections, published earlier, on Tuesday, show the central bank expects lower inflation and higher growth both for 2013 and for 2014 than it did in June.

The central bank cut its forecast for average annual inflation in 2013 to 2.0% from 2.1%. It reduced the forecast for average annual inflation in 2014 to 2.4% from 3.2%. The MNB raised its forecast for GDP growth in 2013 to 0.7% from 0.6%. It raised the forecast for 2014 GDP growth to 2.1% from 1.5%. The government expects the economy to grow by 2.0% next year.

ADVERTISEMENT

IMF raises Hungary 2021 GDP growth forecast to 7.6% Analysis

IMF raises Hungary 2021 GDP growth forecast to 7.6%

Parliament approves amendment to Competition Act Parliament

Parliament approves amendment to Competition Act

New CEO announced at Codic Hungary Appointments

New CEO announced at Codic Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.