MNB: Underlying measures of inflation increase as CPI rises

Analysis

Jessica Fejos

The National Bank of Hungaryʼs (MNB) “underlying measures of inflation” rose in April as headline CPI rose, according to data published by the central bank today, Hungarian news agency MTI reported.

(Photo: Jessica Fejos)

The indicator for core inflation, excluding indirect tax effects, was 1.3% in April, increasing from 1% in the previous month. The indicator for demand-sensitive inflation, which excludes processed foods from core inflation, was 1.7%, accelerating from 1.5%; while 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%, up from 1.7% in the previous month. 

Headline inflation was 0.2% year-on-year in April, the Central Statistics Office (KSH) said earlier today, as consumer prices rose year-on-year after a 0.2% year-on-year drop in March. Seasonally-adjusted twelve-month core inflation was 1.4%. Consumer prices were up 0.8% from March.

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