Hungarian inflation rate rose in August on gas prices
The government's revenue-generating plan will boost the inflation rate by 1%age point in 2008 and 3 percentage points in 2007, the central bank said Aug. 28. The bank said the inflation rate will rise to 7% in 2007 from 3.8% projected for this year before it declines to 4.2% by 2008. The bank, which raised its key interest rate to 7.25% on Aug. 28, may boost rates further later this year to slow inflation, economists said, including Gergely Suppan at Takarékbank Zrt in Budapest. „Further rate increases are unavoidable,” Suppan said. „The inflation rate will probably jump in the next months as energy prices rise and the government increases the value-added tax rate on Sept. 1.” (Bloomberg)
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