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Inflation Suddenly Rises to 4.7% in January

MTI-Hungary Today 2020.02.13.

Hungary’s twelve-month consumer price index rose to 4.7 percent in January, climbing over the upper threshold of the tolerance band around the National Bank of Hungary’s mid-term inflation target, data released by the Central Statistical Office (KSH) on Thursday show.

Central bank rate-setters said at a policy meeting in January that CPI would “rise further temporarily”, lifted by fuel and food prices, before returning to the tolerance band “by the end of the first quarter of 2020”.

There is a +/- 1-percentage-point tolerance band around the central bank’s 3.0 percent “price stability” target.

Featured photo illustration by Sándor Ujvári/MTI