Hungary Inflation Rise and HUF Strength

Hungary's April inflation rose to 2.1% yoy, missing consensus, as Forint appreciation dampened core goods prices. Goldman Sachs notes dovish signals from the MNB, suggesting a possible rate cut in June.

Key Takeaways

• 1.Hungary's headline inflation rose to 2.1% yoy in April, which was below consensus expectations of 2.2%.
• 2.The appreciation of the Hungarian Forint (HUF) following the election is expected to dampen inflationary pressures, particularly in core goods.
• 3.The Hungarian Central Bank (MNB) is showing incrementally dovish signals, with a potential interest rate cut possible at the June meeting.

Table of Contents

• Bottom Line
• Key Figures
• Disclosure Appendix
• Global product; distributing entities
• General disclosures

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