Analysts see Hungary’s July inflation accelerating to 2.1% on fuel prices.

By bne IntelliNews August 12, 2013

Hungary’s inflation speeded up to 2.1% y/y in July 2013 from 1.9% in June driven by fuel prices, analysts polled by portfolio.hu said.

The annual consumer price growth speeded up to 1.9% y/y in June from 1.8% y/y in May and a record low of 1.7% y/y in April. The lower inflation observed in 2013 was partly determined by the government’s move to cut retail electricity, natural gas and district heating tariffs by 10% as of the beginning of 2013. The authorities plan to introduce a 10% cut in the prices of electricity and gas for households in October 2013, which is expected to push the headline inflation to below 2% y/y.

According to market consensus, the consumer price growth will ease to 1.8% y/y in December 2013.

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