Analysts are also divided by the recent retail sales and inflation data

By: Trademagazin Date: 2024. 02. 09. 12:48

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Analysts have different points of view on this year’s inflation outlook, and January’s data did not provide a clear picture of the coming months. According to the statement of the Central Statistical Office on Friday, there is no price pressure in the Hungarian economy based on industrial and agricultural producer prices. However, analysts are not all satisfied…

Dániel Molnár, the lead analyst of the Makronóm Institute, told MFOR that the consolidation of energy prices is already visible to companies, and that he does not expect inflation to rise again, since January’s monthly inflation was only 0.7 percent, while analysts expect an increase of over 1 percent. they mattered.

Gábor Regős, the chief economist of Gránit Alapkezelő, called Friday’s data favorable, which showed lower than expected inflation. Low inflation can be attributed to increasing competition in retail trade, the normalization of energy prices and the still not strong enough state of domestic demand.

ING Bank’s senior analyst, Péter Virovácz, noted that the 0.5 percent increase in the price of services was a surprise, especially because several food prices were reduced. The December service repricing was actually an early year repricing brought forward due to the minimum wage increase, and services inflation is still in the double-digit range.