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Consumer Prices Rise 17.6% y/y in July; Preliminary Trade Surplus Widens

HUNGARY
  • Consumer prices rose 17.6% y/y (Est: +17.7%) versus +20.1% in June, with the pace of inflation seen declining for the sixth month in a row after peaking in January. Prices rose 0.3% from the previous month (Est: +0.1%). Food prices rose 23.1% in July, decelerating from a 29.3% increase in the previous month, while household energy prices increased 35.7%. Core inflation was 17.5%.
  • Hungary's preliminary trade surplus widened to EUR1.481b in June from +EUR1.129b in May, according to the Central Statistical Office. Exports grew by an annual 11.1% while imports decreased by 4.7%.
  • Budget balance data is on the docket later today (1000BST/1100CET). Minutes from the NBH’s latest meeting will be released tomorrow afternoon.

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