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 on Thursday.
In a monthly comparison, prices rose by 0.9 percent after a 0.7 percent rise in March.
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.
Twelve-month headline inflation was the highest measured since December 2012 and the month-on-month rise was the steepest since January 2012.
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”.
As we wrote before yesterday, the European Commission raised its projection for Hungary’s GDP growth this year to 3.7 percent from 3.4 percent in a quarterly forecast released, read more HERE.