Economy

Hungary's consumer price index rose by an annual 8.3 percent in February, a high not last seen since August 2007, and up from 7.9 percent in the previous month, the Central Statistical Office (KSH) said on Wednesday.

The recent weakening of the forint has resulted from the government's "ill-advised, unconvincing economic policy", representatives of opposition parties said on Tuesday.

Hungary's currency has become a victim of Brussels's sanctions, which have caused substantial damage to the Hungarian economy, Finance Minister Mihaly Varga said on Monday.

Output of Hungary's industrial sector rose by an annual 8.9 percent in January, the fastest rate since summer, the Central Statistical Office (KSH) said on Friday.

Retail sales in Hungary rose by an annual 4.5 percent in January, slowing from 6.7 percent in the previous month, the Central Statistical Office (KSH) said on Thursday.

Hungary's GDP grew by an annual 7.1 percent in the fourth quarter, bringing full-year growth to 7.1 percent, too, the Central Statistical Office (KSH) said in a second reading of data on Wednesday.

The forint traded at 380.77 to the euro around 5.30pm on Wednesday, regaining some ground after hitting a new record low of 383 earlier in the day.

Investment volume in Hungary rose by an annual 0.2 percent in the fourth quarter of last year supported by investments from businesses, the Central Statistical Office (KSH) said on Tuesday.

Politicians of the united opposition have accused the government of blocking their initiatives aimed at revealing corruption cases and affairs concerning Hungary's NATO and EU membership.

The National Bank of Hungary (NBH) will use all elements of its toolkit to intervene to ensure the stability of the domestic financial markets if necessary, the central bank told MTI on Tuesday.