Ecostat, the research arm of Hungary’s Central Statistics Office, sees the forint (HUF) firming to 286 against the euro in August, twelve-month inflation picking up to 3.7%, as tax rises are introduced, and the central bank base rate dropping 100bp to 8.50%, it said in its latest Mikroszkop report.
Ecostat puts twelve-month industrial output down 13.6% in August, compared to an adjusted 25.4% twelve-month drop in February. It projects retail turnover will fall 3.1% yr/yr in August.
Gross wages are seen rising 2.4% in August, as public sector wages drop 2.5% but private sector wages climb 4.5%. (MTI-Econews)