May 8, 2020 / 8:19 AM / 23 days ago

Hungary cbank's key inflation gauge slows to 3.8% in April

BUDAPEST, May 8 (Reuters) - The Hungarian central bank’s tax-adjusted core inflation gauge slowed to 3.8% in April from 3.9% year on year in March, the bank said in a statement on Friday.

Hungarian headline inflation came in at an annual 2.4% in April after a 3.9% annual reading in March while core inflation stayed near a seven-year high, data showed earlier on Friday.

“In April 2020, items with greater sensitivity to cost changes, i.e. primarily fuel, had a downward effect on inflation, with the contribution of demand-sensitive products being broadly unchanged relative to the previous month,” the central bank said.

“Households’ inflation expectations have risen amid high volatility in recent months,” it added. A fan chart compiled by the NBH showed the top end of household inflaton expectations jumping to around 9%, the highest since 2013. (Reporting by Krisztina Than)

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