FX.co ★ Hungary's Core CPI Rises to 4.7% in July 2024, Up from 4.1% in June

The Hungarian Central Statistical Office (KSH) has released new data indicating a significant uptick in Hungary's Core Consumer Price Index (CPI), which reached 4.7% in July 2024. This is a notable increase from June 2024, where the Core CPI stood at 4.1%. The updated data was published on August 08, 2024.

This year-over-year comparison shows that Hungary is grappling with an accelerating pace of underlying inflation. The Core CPI is an essential indicator as it strips out the volatile prices of food and energy, providing a clearer picture of long-term inflation trends. July's data marks a crucial shift, suggesting rising inflationary pressures within the Hungarian economy.

As the cost of living continues to climb, businesses and consumers alike may feel the strain. Economic policymakers will be watching closely to gauge the potential implications for interest rates and fiscal policy. This rise in the Core CPI could prompt discussions on adopting more stringent economic measures to curb inflation and stabilize the economy in the coming months.