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Gov’t puts average annual inflation at just under 0.4%

Analysis

Hungaryʼs average annual inflation rate is likely to be a little under the 0.4% projection in the countryʼs Convergence Program, an official of the Ministry for National Economy said on state-owned all-news channel M1 late yesterday, according to Hungarian news agency MTI.

Hungaryʼs annualized CPI was up 0.6% in September, climbing for the first time in five months. 

Deputy state secretary László Balogh said on news channel M1 that the fresh data was in line with expectations. Inflation will accelerate a little in the fourth quarter, but the inflationary environment will remain moderate, he added.

Balogh said he saw no signs of the National Bank of Hungary (MNB) making any changes to its present monetary policy due to the higher inflation.

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