Macroeconomic Forecast Hungary

According to the most recent data released by the Hungarian Central Statistics Office, consumer price inflation continued to rise in August, hitting 6.0% y-o-y, up from 5.8% the previous month and 5.3% back in May. While the current reading is more than double the central bank's medium-term target, we do not foresee major inflationary risks over the medium term. Owing to weak domestic demand, we see headline inflation heading back down towards 4.6% y-o-y by the end of the year.

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