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Hungary's Inflation Slows To 3.1% In November

• 12 Dec 2018 6:49 AM
• Hungary Matters

Consumer prices in Hungary rose by an annual 3.1% in November, slowing markedly after accelerating for much of the year, data released by the Central Statistical Office (KSH) show.

Food prices rose by 4.5% and the price of spirits and tobacco climbed by 4.6%, while clothing prices edged up 0.9% and consumer durable prices were up by a moderate 0.6%.

Household energy prices increased by 1.2%, prices in the category of goods that includes vehicle fuel rose by 4.1%, as vehicle fuel was 7.2% dearer, and service prices were up by 2.2%.

Harmonised for better comparison with other European Union member states, CPI was 3.2%.

Core inflation, which excludes volatile fuel and food prices, reached 2.6%. CPI calculated with a basket of goods and services used by pensioners was 2.9%.

In a month-onmonth comparison, consumer prices fell by 0.3% in November.

n a monthly analysis released after the publication of the KSH data, the National Bank of Hungary (NBH) attributed the slowdown in inflation to a decline in fuel prices.

The central bank also said its measures of underlying inflation developments “rose slightly” compared to October.

The indicator for core inflation excluding the effects of indirect taxes stood at 2.7% in November, rising from 2.5% in the previous month.

The indicator for demand-sensitive inflation, which excludes processed foods from core inflation rose to 2.7% from 2.6%.

Households’ inflation expectations “remained at moderate levels” in November, the central bank said.

Further info available on Central Statistical Office (KSH)'s website.

Click here to read the 'Monthly Analysis Of Inflation Developments' prepared by Judit Várhegyi - National Bank of Hungary

Photo: Courtesy of National Bank of Hungary (MNB)

Related links

Inflation Slows In November, But Underlying Trends Remain In Hungary

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