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Hungary CPI rises to 3.9 pc

Hungary CPI rises to 3.9 pc

The rate of consumer price inflation in Hungary accelerated to 3.9 percent in April from 3.7 percent in the previous month, the Central Statistical Office (KSH) said.

Core inflation growth, which excludes volatile food and fuel prices, stayed unchanged at a seasonally adjusted 3.8 percent, the more than 6-year peak rate it picked up to in March.

Assessing inflation prospects after a rate-setting meeting on April 30, the National Bank of Hungary Monetary Council said that inflation “will fluctuate around” the 3 percent central bank target in the coming quarters, while the measure of core inflation excluding indirect tax effects – a bellwether indicator of underlying inflation – is “expected to continue to rise until the autumn months and then to decline from the end of 2019”.