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.