MNB: inflation will be slightly above 3 percent in the short term

According to the latest inflation report of the National Bank of Hungary (MNB), inflation is expected to be slightly above 3 percent in the short term. In a sustainable manner and structure, the inflation target will be fullfilled from the middle of 2019 – Balatoni András, head of the central bank said.

Referring to the most recent quarterly inflation report of the MNB, he emphasized that in the short term, the pace of money shrinking will slow slightly, but will be slightly above 3 percent. The decline is basically due to the base effect of fuel prices, but this is dampened by the rise in excise duty in September and the higher than anticipated prices of unprocessed food products. (MTI)