Analysts see February CPI reaching 5.6% on VAT hike, weaker forint

Analysis

Analysts estimate year-on-year consumer price inflation accelerated to 5.6% in February from 5.5% in January, climbing on a hike in the main VAT rate and the weaker forint, business daily Napi Gazdaság said on Friday.

February CPI climbed mainly on food prices and the prices of market-based services, analyst Zoltán Török of Raiffeisen Bank said.

Hungary's main VAT rate rose from 25% to 27% from January 1. The forint was 7% weaker in February than a year earlier, although it strengthened 5% from the previous month.

The analysts asked by Napi put average annual inflation at 5.2% for 2012 and 3.2% for 2013.

The Central Statistics Office (KSH) will publish February CPI on Tuesday.

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