K&H Analyst Expects Another Year of Inflation

Figures

Inflation may only return to the single-digit range by next August at the earliest, but in 2023 the annual average may still remain above 10%, according to Dávid Németh, senior analyst at K&H Bank, based on the inflation data from the Central Statistical Office. 

According to current projections, inflation may accelerate to 18-19% in October. 

The specialist emphasized that inflation was driven up by the price of food, including processed products. 

The price of confectionery flour products, for example, increased by 21.3% compared to June, and bakery goods, also in one month, went up by almost 10%. 

The increase in excise duty also left its mark on the July data. 

Some 3.7% more had to be paid for spirits and tobacco products in July compared to the previous month. 

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