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7% inflation expected this year

The inflation rate of June this year was 0.1% higher than planned, still, experts agree that the rate is going downwards in Hungary.

The National Bank of Hungary (MNB) is still cautious to cut the general interest rate, but both MNB and the Finance Ministry seem to agree that this year's inflation rate in Hungary will not surpass 7%. The June figure was 8.6% year on year, but the trend shows that inflation will decline by the end of the year. OECD believes the inflation rate will be 7.2%, the European Union stays with 7.5%. The inflation will fall down next year, international sources believe 3.7%-3.8% could be realistic figure for 2008. (Magyar Hirlap)