Hungary registered low inflation rate was low in 2016. It was 0.4 percent, reported KSH Friday.
In December 2016, consumer prices rose by 1.8 percent year-on-year. In the past six years, inflation has averaged 2.4 percent per year in Hungary, albeit there were major fluctuations.
According to officials, the reduction of VAT on poultry, eggs, milk, internet and restaurant meals is expected to lead to significantly lower consumer prices in 2017. However, international energy market trends are pointing to higher inflation. So Ministry for National Economy prognosticates an inflation rate of 1.6 percent for 2017.
