• Home
• Channel: Finance
• Central Bank Sees Inflation Rising Beyond 8% in Hungary

Central Bank Sees Inflation Rising Beyond 8% in Hungary

• 24 Feb 2022 6:29 AM
• Hungary Around the Clock

Inflation is accelerating further from the 7.9% year-on-year reached in January to over 8%, and perhaps even 8.5% in February, MNB chief economist Barnabás Virág told a press conference after the central bank raised the base rate on Tuesday.

This unexpected announcement will prompt analysts to change their forecasts, Portfolio observes.

Analysts polled earlier by the website had surmised that inflation might have peaked in January, as they forecast a deceleration trend.

Virág said the monetary council’s March rate-setting meeting will be a milestone in the MNB’s ongoing series of interest rate hikes, adding that a fresh inflation report will be presented at that time.

The higher inflation trajectory raises the likelihood that the MNB will also accelerate the pace of its interest rate hikes, Portfolio adds.

The Central Statistics Office will announce the actual February inflation figure on March 9.

• How does this content make you feel?
• I love it
• I like it
• I dislike it

• Inflation

XpatLoop Media Partner

Hungary Around the Clock

Since 1995 Hungary Around the Clock has proven to be one of the most comprehensive sources of daily English-language news about Hungary. It covers ongoing domestic politics and foreign relations, as well as business and economic matters. For a free trial of HATC visit www.hatc.hu and click on 'Free Trial Subscription’.

Explore More Reports

Inflation in Hungary Predicted to Rise Over Coming Months, A National Bank Director Reveals

• 20 Dec 2024 6:38 AM

Inflation in Hungary will temporarily rise in the coming months, but will remain within the tolerance band throughout most of 2025, Andras Balatoni, a director of the National Bank of Hungary (NBH) said.



Fitch Revises Outlook in Hungary from Negative to Stable

• 9 Dec 2024 2:48 PM

Fitch Ratings affirmed Hungary's investment-grade sovereign rating and revised the outlook to stable from negative on Friday, the National Economy Ministry said in a statement.



Central Bank Base Rate Remains Unchanged in Hungary at 6.50% - Here's Why

• 19 Nov 2024 4:58 PM

The Monetary Council of the National Bank of Hungary (NBH) decided to leave the central bank base rate unchanged at 6.50pc at a monthly policy meeting.



Consumer Price Index Inches Up in Hungary - Basic Food Prices Up Steeply Again

• 13 Nov 2024 11:36 AM

Hungary's annualised consumer price index reached 3.2pc in October, inching up from 3.0pc in the previous month, data released by the Central Statistics Office (KSH) on Tuesday show.