MNB expects a 3.5 percent inflation and 0.5 percent economic growth for the next year

According to MNB’s new inflation forecast, this year’s average inflation rate will be 5.7 percent. Next year it will be 3.5 percent and for 2014 a 3.2 percent is forecasted. The 3.0 percent inflation target may be fulfilled in the second half of 2014.

Among the components of next year’s GDP, household consumption will decrease by 0.2 percent (-0.8 percent was forecast in September), the investments will shrink by 0.2 percent (September projections indicated stagnation), private investment will decrease by 3.7 percent (September index -2.1 percent).

According to the new inflation forecast 2013, the gross average wage will increase in the private sector by 4.9 percent. Employment in this sector will decrease by 0.3 percent. (MTI)