Analysts estimate consumer price inflation slowed to 4.1% year-on-year in December from 4.3% in November, business daily Napi Gazdasag said on Wednesday.

Prices in November were lifted by excise tax hikes on tobacco and vehicle fuel, the analysts said.

The analysts put month-on-month CPI at 0.3% in December, following a 0.7% increase in November.

Looking ahead, Janos Samu of Concorde said the January VAT increase may add half a percentage point to CPI..

The analysts projected average annual inflation of 4.9% for 2012, picking up from an estimated 4% in 2011.

Emerging market analysts in London put December CPI at 4.2%-4.4% in December, attributing higher prices to the weak forint, higher taxes and rising fuel prices.