The annual inflation rate slowed to just 2.2% in March from 2.8% in the previous month, the Budapest statistics office announced Thursday . This level has not been reached since September 1974 and is lower than the 2.5% average estimate made by the Bloomberg inquired economists surveyed by. Prices rose by only 0.3% compared to February.
Hungary's central bank, which reduced rates for eight months in a row, to a historic minimum of 5%, could continue this trend if the price pressure remains moderate within the parameters and the financial market stabilizes.