The rate of consumer price inflation in Hungary accelerated to 3.9% in April from 3.7% in the previous month, the Central Statistical Office (KSH) said. In a monthly comparison, prices rose by 0.9% after a 0.7% rise in March. Core inflation growth, which excludes volatile food and fuel prices, stayed unchanged at a seasonally adjusted 3.8%, 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% 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”.