Central Bank Forecasts Fourth-Quarter Inflation Better than Expected

Hungary will record inflation at 3.6pct in the fourth quarter of 2010 and 3.3pct in the first quarter of 2011, the National Bank of Hungary (NBH) said in its quarterly inflation report on August 25.

The NBH forecasts average annual inflation at 4.7pct this year, down slightly from the bank's previous quarterly projection in June of 4.9pct; and an average annual inflation of 3.5pct next year, up from the previously forecast 3.0pct.
The central bank projects an average annual inflation of 3.4pc in 2012, compared to the previously forecast 2.9pct.
The NBH predicted that Hungary's GDP would rise 0.9pct this year, unchanged from the bank's previous forecast, and would increase 2.8pct in 2011, down from the previously forecast 3.2pct.

News Monitoring