picture of György Matolcsy

The Hungarian National Bank (MNB) expects inflation to be around 5% this year and next, with a forecasted range of 4.7-5.1% for 2022, said György Matolcsy to business site Portfolio.

Matolcsy said that while inflation ended up being close to their desired rate of 3% in 2020, this will not be true for 2021, and likely not for 2022 either.

According to the governor of Hungary’s central bank, the rise in inflation is a global phenomenon caused by the coronavirus and the narrow recovery period, but it is a high price to pay for the world economy to get on its feet again.

Inflation is everyone’s public enemy, especially central banks

-said the MNB Governor.

The latest inflation report by the MNB is expected on December 14.



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By Steven N.

Steven is the editor-in-chief of Hungarian Politics. He has been following the political scene in Hungary and the Central European region more or less since 1994.