The MNB's measure of core inflation excluding indirect tax effects, a bellwether indicator of underlying inflation, rose to 12.2% in May from 10.3% in the previous month.

The central bank's indicator for demand-sensitive inflation, which excludes processed foods from core inflation, increased to 9.9% from 8.8%.

The indicator for sticky price inflation, which includes items for which retail prices vary, on average, no more than 15% a month, climbed to 11% from 10%.

The MNB said the indicators measuring households' inflation expectations "showed unusually high volatility," remaining "basically unchanged" in May but standing over the central bank target range.