MNB measures of underlying inflation little changed in October

Analysis

The measures of underlying inflation employed by the National Bank of Hungary (MNB) were “broadly unchanged” in October from the previous month, the central bank said today, according to Hungarian news agency MTI.

“The measures continue to indicate a moderate inflation environment,” the MNB said. “Households’ inflation expectations have been largely unchanged in recent months and remained at moderate levels, in line with low underlying inflation developments,” it added.

The indicator for core inflation, excluding indirect tax effects, was 1.4% in October, level with the previous month. The indicator for demand-sensitive inflation, which excludes processed foods from core inflation, was 1.5%, also the same as in September.

The indicator for sticky price inflation, which includes items for which retail prices vary, on average, no more than 15% a month, was 1.8%, down from 1.9% in the previous month.

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