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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
HUNGARY
MNI (London)
HUNGARY AUG CPI +1.8% M/M (FCST +1.9%); JUL +2.3% M/M
HUNGARY AUG CPI +15.6% Y/Y (FCST +15.9%); JUL +13.7% Y/Y
- Hungarian inflation continued to surge in August, accelerating by 1.9pp to +15.6% y/y, whilst easing 0.5pp to a robust +1.8% m/m.
- Core inflation surprised to the upside, rising a hot 2.3pp to 19% y/y in August. This confirms another hefty hike at the Sept 27 meeting following 100bp to 11.75% in August.
- Selling pressure on HUF has been rising this morning, as markets remain focused on the softer-than-expected headline print.
- Food and consumables were the key drivers, with food up 3.3% m/m (+30.9% y/y) and consumer durables up 1.2% m/m (+14.8% y/y). The small 0.3% m/m uptick in motor fuels largely reflects a change to fuel price regulation.
- September data will reveal the effects of the change in energy prices for August under the latest pricing.
- Central and Eastern European economies are experiencing significantly stronger CPI rates than Western Europe, due to more dependent economic ties with Russia and Ukraine and higher exposure to agricultural commodity inflation.
Source: Hungarian Central Statistical Office
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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