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Government Puts a Cap on the Price of Basic Food Items

Jan 12, 2022

The government has decided on a food price freeze, with the prices of six products to be fixed from February 1 at the same level as on October 15 last year, the prime minister announced on Wednesday. Viktor Orbán said following the cabinet meeting that the government had decided to intervene in the price of […]

Out-of-Control Prices Expected in the Election Year

Jan 10, 2022

Inflation hit a 14-year high at the end of last year and the government is embarking on a massive cash giveaway ahead of the election. And the result is in: the majority of Hungarians expect retail prices to go out of control in 2022, according to a representative survey by Pulzus Research. Last November, consumer […]

Deteriorating Balance of External Trade for Hungary

Dec 22, 2021

In October 2021, the volume of exports was 10% and that of imports 5.6% smaller than in the same period of the previous year. Compared to October 2019, the volume of external trade declined by 6.1% in exports and by 5.0% in imports. The deficit was EUR 302 million, the balance deteriorating by EUR 1.2 billion compared to a year earlier. […]

Falling Index at the Budapest Stock Exchange This Week

Dec 19, 2021

The stock index of the Budapest Stock Exchange (BSE) fell this week, closing at 50,887.3 points on Friday, 189.31 points or 0.37% lower than a week ago, the state news agency MTI reports. Turnover on the stock market was HUF 60.85 billion, up from HUF 42.87 billion last week, with leading shares performing mixed. In […]

Hungary Posts Record Budget Deficit on Pre-Election Spending

Dec 10, 2021

Hungary’s November government deficit broke an all-time record, boosted by a government spending spree to win re-election next spring. Economists fear that the upcoming general election will put the much-needed fiscal consolidation on hold. Hungary recorded an unprecedented monthly budget shortfall of HUF 1,009 billion in November, according to preliminary information published by the Ministry […]

Inflation Peaks at 14-Year High in Hungary

Dec 8, 2021

Consumer prices were 7.4% higher on average in November 2021 than a year earlier. The last time the inflation was as high was in December 2007.  The highest price rises over the last 12 months were measured for motor fuels as well as alcoholic beverages and tobacco. In one month, consumer prices increased by 0.7% on average, […]

Hungary lending boom may be nearing end, further slowdown on the horizon

Dec 3, 2021

Activity on Hungary’s credit market showed a general slowdown in October, even though bank lending rates only started to rise sharply in November. Given the rather aggressive monetary tightening pursued by the National Bank of Hungary, the coming months could bring an even more accentuated slowdown in lending. Activity on the Hungarian retail credit market […]

Deteriorating External Trade Balance for Hungary

Dec 2, 2021

In September 2021, the volume of exports became 9.1% and that of imports 0.4% smaller compared to the same period of the previous year. Compared to September 2019, the volume of external trade increased by 0.7% in exports and by 4.7% in imports. The deficit was EUR 128 million, the balance deteriorating by EUR 1.3 billion compared to a year earlier.  […]

Record weak forint puts Hungarian central bank in tight spot

Nov 26, 2021

Record weak forint puts Hungarian central bank in tight spotThe Hungarian forint weakened to a record level against the euro this week and Hungarian government bond yields jumped amid a souring of international market sentiment and a surge in COVID-19 cases. The central bank raised the interest rate on its one-week deposit facility in an […]

Hungarian Currency at Historic Low Against the Euro

Nov 22, 2021

Despite the National Bank of Hungary (MNB) raising the policy rate by a total of 70 basis points in two steps last week, the Hungarian forint (HUF) fell to a new historic low against the common European currency (EUR) on Monday morning. In one day, the euro exchange rate broke through the psychological barrier of […]

Hungary’s central bank delivers aggressive rate hike to help forint

Nov 19, 2021

Faced with surging inflation and a weakening currency, Hungary’s monetary policy maker took decisive steps this week. The central bank raised the one-week deposit rate by 70 basis points after hiking the benchmark interest rate hike 2 two days earlier. The Hungarian National Bank (MNB) raised the benchmark interest rate by 30 basis points to […]

Hungary’s Runaway Inflation May Force More Aggressive Rate Hikes

Nov 12, 2021

The faster-than-expected increase in Hungarian consumer prices has taken the market by surprise and is prompting analysts to revise their inflation projections upward. Many believe that the nation’s central bank will be forced to tighten monetary conditions more aggressively than planned to tamper inflationary pressures in the economy. Hungarian consumer prices jumped 6.5% year on […]

Official Inflation Rate Continues to Rise in Hungary

Nov 9, 2021

Consumer prices were 6.5% higher on average in October 2021 than a year earlier. Significant price rises were measured over the last 12 months for motor fuels as well as alcoholic beverages and tobacco. In one month, consumer prices increased by 1.1% on average, the Central Statistical Office reports. In 12 months, compared to October 2020: Food […]

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