May 8, 2020 / 8:10 AM / 20 days ago

Hungary's April CPI drops steeply on fuel, core CPI steady at 7-yr high -stats

    BUDAPEST, May 8 (Reuters) - Hungarian headline inflation
 came in at an annual 2.4% in April after a 3.9%
annual reading in March, above market forecasts, while core
inflation stayed near a seven-year high, data showed on Friday.
    Both readings matched an analysts poll by Reuters.
    Food prices rose by an annual 8.7% partly on the novel
coronavirus pandemic, while fuel prices dropped by 22.7% on the
year as oil prices collapsed, the Central Statistics Office
(KSH) said.
    Stripped of those volatile components, core inflation
 stayed steady at an annual 4.3%, the highest
reading since late 2012, the KSH said.
    The National Bank of Hungary targets 3% headline inflation
with a tolerance band of a percentage point on either side.
Prices dropped by 0.6% from the previous month in April, while
the monthly rise in core inflation was 0.5%, the KSH said.
    
 INFLATION (% change)      April 2020   March 2020   April 2019
                                                    
 Headline CPI m/m                -0.6          0.2          0.9
 Headline CPI y/y                 2.4          3.9          3.9
 Core CPI y/y                     4.3          4.3          3.8
 
 (Reporting by Marton Dunai)
  
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