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Analysts put October inflation at 3.6% - Napi Gazdaság

Analysts polled by business daily Napi Gazdaság estimate consumer prices rose 3.6% year-on-year in October, unchanged from the previous month.

The analysts put month-on-month CPI at 0.4% in October, following a 0.1% drop in consumer prices in September.

The Central Statistics Office (KSH) will publish October inflation data on Friday.

Analyst István Horváth of UniCredit said inflation was driven by the price of petrol, which represents a fairly large percentage in the consumer basket, as well as by food and clothing prices.

In the coming months, the excise tax raise could give an extra boost to prices, but inflation could still remain just under 4%, Sándor Jobbágy of CIB Bank said. Jobbágy put annual average inflation at 3.9% for 2011.

The analysts’ consensus for annual average inflation in 2012 is 4.8%, the paper added.