MNB lowers all projections of inflation in 2013

Food

The National Bank of Hungary lowered projections for all gauges of consumer inflation this year in its fresh quarterly Inflation Report published in full Thursday. The MNB said already on Tuesday that CPI could remain below the 3% mid-term “price stability” target over the full forecast horizon, outlining the main findings of the report. It put average annual CPI at 2.6% for 2013, well under the 3.5% projected in the previous Inflation Report published in December.
    The projection for headline inflation was modified after Hungary's year-on-year CPI slowed to 2.8% in February -- the lowest rate in almost seven years -- on the back of a 10% reduction in household gas, electricity and district heating prices.
    The full report shows the MNB also lowered its projections for core inflation this year to 4.0% from 5.2%, and for core inflation cleared of indirect tax effects to 2.4% from 3.5%. The central bank stood by its projection for GDP growth of 0.5% this year.It lowered its projection for the general government deficit, calculated according to European Union standards, to 2.9% of GDP from 3.0%.

ADVERTISEMENT

European e-commerce soars during pandemic - study Analysis

European e-commerce soars during pandemic - study

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.