Economics
Hungary Inflation Soars With No End in Sight for Rate-Hike Cycle
- Consumer prices rise by the most since 1998 as food costs soar
- Inflation may top 20% as energy subsidies fade, economist says
A customer pays for fresh strawberries at a market stall in Lehel Market Hall in Budapest, Hungary.
Photographer: Akos Stiller/BloombergThis article is for subscribers only.
Hungarian inflation accelerated to the fastest in 24 years, offering no reprieve for a central bank that’s raised interest rates by the most in the European Union.
Consumer prices rose 13.7% in July from a year earlier, exceeding all estimates in a Bloomberg survey. Core inflation, which strips out volatile commodity prices, was even higher at 16.7%, pointing to broad-based inflationary pressures across the economy.