Inflation rose in September more than market had expected.
The annual inflation rate rose to 20.1% in September from 15.6% in August, catapulting the forint to 430 forints against the euro. This is the highest inflation rate since 1995/1996.
As the main price driver, groceries were pushed out by household energy. Since August 1, the government has only adhered to the officially fixed electricity and gas prices for private households up to an average consumption. For consumption levels above that, households have to pay about twice as much for electricity and 7.5 times for natural gas. Food prices increased by 35% and gas increased by 120%.
Core inflation rate rose another 1.7 points to 20.7% in September. The mean annual inflation in January-September was 11.8%.