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Kopint-Tárki forecasts rising inflation for next year

Economic research company Kopint-Tárki forecast a 5.2% annual average inflation for this year and puts next year's inflation at 5.5% in its latest forecast, general manager Éva Palócz announced at a press conference.

The research company raised its inflation forecast from 3.7% in its previous forecast in March.

Kopint-Tárki forecasts a 6.0% fall of Hungary's GDP, after putting GDP contraction at between 4% and 5% in March, mainly due to 14% decline in industrial output and 7% fall in retail consumption.

The forecast calculates with a 285 HUF/EUR annual average exchange rate in 2009 as compared to 251 HUF /EUR in both 2008 and 2007. (MTI – Econews)