Inflation in Hungary has increased to almost 6 years

Budapest, November 8 (TASR) – The inflation rate in Hungary increased further in October, reaching its highest level in almost six years. This was reported by the Hungarian statistical office on Thursday, which released preliminary data.

Consumer prices in Hungary rose 3.8% year-on-year last year. In September, price growth was 3.6%, and economists expect this growth rate to be maintained in October.

This figure is important for economists, especially as the latest inflation rate is significantly higher than expected by the central bank, said ING Bank economist Peter Virovacz. As he added, the central bank's estimate suggested an inflation rate of 3.3%. In addition, in the past three months, bank inflation estimates have averaged 0.23 percentage points.

Nuclear inflation, which excludes unstable food and energy prices, reached 2.6% in October. Even in this case, consumer price inflation accelerated when they rose 2.2% in September.

Month-on-month consumer prices increased 0.5%. Again, the data exceeded economists' estimates that forecast month-on-month increases in consumer prices by 0.3%.