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Consumer Prices In Hungary Up 3.4% In July

• 9 Aug 2018 6:47 AM
• Hungary Matters

The Hungarian Central Statistical Office (KSH) says the CPI grew in Hungary by an annual 3.4% this July.

In a month-on-month comparison, prices were up 0.3%. The headline figure accelerated from 3.1% in June.

Food prices increased by 3.6% and the price of spirits and tobacco grew by 5.3%. Clothing prices inched up 0.7%, household energy prices were up 1.5% and service prices rose by 1.6%.

Prices in the category of goods that includes vehicle fuel climbed 7.5%, with fuel prices rising by 17.8%. Consumer durable prices eased by 0.1%.

Annual CPI harmonised for better comparison with other European Union member states stood at 3.4%. Seasonally adjusted core inflation, which excludes volatile fuel and food prices, was 2.4%.

Calculating with a basket of goods and services used by pensioners, inflation was 2.9%. Péter Virovácz of ING Bank said inflation growth was above the 3.3% market consensus for July but core inflation remained unchanged.

Gergely Suppan of Takarékbank attributed the higher-than-expected CPI to rising fuel prices. Rising food prices could boost prices soon, he said.

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Launched in January 2014, this newsletter published on week days covers 'everything you need to know about what’s going on in Hungary and beyond', according to its publisher the state media agency MTI.

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