MNB: rising fuel and food prices pushed up inflation in January

The rise in inflation is mainly explained by the rise in fuel and food prices – the National Bank of Hungary (MNB) said in its comment on January inflation data.

In the first month of the year, annual inflation was 4.7 percent, 0.7 percentage points higher than in December, while core inflation was 4.0 percent after the 3.9 percent of December. Core inflation, adjusted for indirect taxes, stood at 3.7 percent, 0.2 percentage points higher than in December.