Consumer Prices In Hungary Up 3.4% In July

  • 9 Aug 2018 6:47 AM
  • Hungary Matters
Consumer Prices In Hungary Up 3.4% In July
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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