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Inflation should be slower than expected earlier

Annual average consumer price inflation (CPI)should be 4.2% this year after 6.1% last year, the National Bank of Hungary (MNB) latest quarterly report showed on Wednesday.

MNB expected 4.5% for this year in its earlier report in August.

MNB now predicts 3.9 % CPI for next year instead of 4.1% in the August report, and 1.91% for 2011 instead of 2.1% in the earlier, August report.

MNB still expects GDP to decline by 6.7% this year, but its prediction for next year, minus 0.6%, is better than the minus 0.9% predicted in the August report. It sees 3.4% real GDP growth in 2011, the same as in the August report. (MTI-ECONEWS)