Hungary's 2017 average inflation at 2.4 pct, well lower than target of 3 pct

Source: Xinhua| 2018-01-12 20:11:28|Editor: Jiaxin
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BUDAPEST, Jan. 12 (Xinhua) -- Consumer prices in Hungary fell to 2.1 percent in December year on year, after 2.5 percent in November, according to a statement published here on Friday by the Hungarian central statistical office KSH.

"In 2017, the average inflation rate in Hungary was 2.4 percent," KSH added.

Inflation was mainly driven by alcohol and tobacco products (6.8 percent) and food products (3.5 percent).

On a monthly basis, consumer prices stagnated in December after rising 0.4 percent in November, KSH noted.

The Hungarian central bank MNB has an inflation target of 3 percent and since May 2016 has maintained its main policy rate at the historically low level of 0.9 percent to serve this purpose.

Inflation reached 2.9 percent in January year-on-year, its highest level since March 2013, before settling again.

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