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HUNGARY: Headline Inflation Dips More Than Expected in June

HUNGARY
  • Hungary’s consumer prices rose 3.7% y/y (Est: +3.9%) in June versus +4.0% in May, according to the Central Statistical Office. Prices were unchanged month-on-month (Est: +0.2%) compared to -0.1% in May, while core inflation stood at +4.1% Y/Y. As a reminder, the NBH targets inflation within +/-1ppt of 3%.
  • Among the sub-categories, food prices rose 1.1% in June, household energy prices fell 2.7% while consumer durable prices edged down 1.3%.
  • A press briefing on the acquisition of the Budapest Airport hub will be held by Economy Minister Marton Nagy and the management team of Vinci this afternoon. Looking ahead, minutes of the June MPC meeting will cross on Wednesday with no other major data releases scheduled for the remainder of the week.

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