US NOV FLASH MANUF PMI 48.8 (FCST: 48.9); OCT 48.5

MNI:Largest Canada New Home Price Dip Since `09 Led By Toronto

CANADIAN OCT FLASH RETAIL SALES +0.7%, 4TH STRAIGHT INCREASE

MNI China Daily Summary: Friday, November 22

MNI: PBOC Net Drains CNY345.9 Bln via OMO Friday

MNI BRIEF: Fed Should Explore Central Clearing At SRF-Hammack

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK Bond Supply Calendar: Gilt Syndi; IT, EU Due Monday

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL NOV INDEX 71.8

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Sell-side Views on This Week’s Upcoming Inflation Data (Est: +22.3% y/y)

HUNGARY
  • Goldman Sachs forecast inflation to decrease to +22.3% y/y. The main source of disinflation will be food inflation, with the decline supported by both favourable base effects and weaker sequential momentum. Declining oil prices should also contribute to lower inflation in Hungary in the months ahead, to which the Hungarian CPI basket is relatively more geared towards.
  • UniCredit estimate that inflation fell to 22.3% y/y at the end of May, mainly due to very large base effects in food prices. They also expect the prices of core goods and services to have risen less than they did in May 2022 as energy costs have fallen. Going forward, the inflation outlook is obscured by the recently announced mandatory price caps, which are likely to lead to more volatility in food prices.
  • They expect inflation to reach single digits by December, with disinflation slowing thereafter due to tight labor market conditions and larger supply shocks than in the rest of the region. Inflation is seen remaining above 6% next year. Furthermore, UniCredit expect rate cuts to continue this year, with the overnight deposit rate and the policy rate being unified at 12% by the end of the year.
  • ING expect the month-on-month headline inflation to come in at around 0.1% mainly on easing price pressures in food, fuel and durables. Services inflation, however, will remain strong they say, thus core inflation on a monthly basis will stay high around 0.8%. But thanks to base effects, the headline and core readings will flirt with 22% and 23% levels, respectively.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

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.