Economy

Hungarian central bank rate-setters hiked the base rate by 100 basis points to 5.40 percent at their regular meeting on Tuesday, while also expanding the two sides of the interest rate corridor by the same ratio.

The average gross wage of full-time employees in February was 546,000 forints (EUR 1,470), 31.7 percent higher than the same period a year prior, the Central Statistical Office (KSH) said on Tuesday.

Hungary's 8.6 percent inflation is in the European Union middle range, according to Eurostat data, Finance Minister Mihaly Varga said on Friday.

Output of Hungary's industrial sector rose by an annual 4.5 percent in February, around half the pace in January, the Central Statistical Office (KSH) said in a detailed reading of data on Wednesday.

Output of Hungary's construction sector rose by an annual 42.3 percent in February, the highest pace in almost three years, the Central Statistical Office (KSH) said on Wednesday.

Consumer prices in Hungary grew by an annual 8.5 percent in March, quickening from 8.3 percent in the previous month, the Central Statistical Office (KSH) said on Friday. Month on month, inflation was 1 percent.

Hungary's cash-flow-based budget deficit, excluding local councils, was 2,309.4 billion forints at the end of March, the Finance Ministry said in a first release of data on Friday.

Hungary's trade balance showed a deficit of 91 million euros in February, the Central Statistical Office (KSH) said in a first reading of data.

Economic research institute Kopint-Tarki has lowered its forecast for this year's economic growth to 4 percent from 5 percent.

Guest nights at commercial accommodations in Hungary soared by an annual 413.5 percent to 1,082,000 in February, from a low base impacted by pandemic-related travel restrictions, the Central Statistical Office (KSH) said on Wednesday.