Hungary CPI quickens to 5.9% in February

Food

Consumer prices in Hungary rose 5.9% yr/yr in February, outpacing analysts' highest expectations, accelerating further from a rise of 5.5% in January and 4.1% in December, the Central Statistics Office (KSH) said on Tuesday.

On Monday, London emerging market analysts' forecasts varied between 5.4-5.8% for February yr/yr inflation in Hungary.

Last year annual average inflation was 3.9%.

Monthly inflation slowed to 0.8% from 2.1% in January which was the highest within a year.

Food prices went up 1.7 % m/m after rising 2.8% in January, alcoholic beverages and tobacco cost 0.9% more after becoming 3.0% more expensive in January, clothing and footwear went down 0.6% after a 2.7% m/m drop in January. Consumer durables were up 0.1% m/m after becoming 0.2% cheaper in January. Household energy products went up 2.7% m/m after adding 1.0% in January, while motor fuels and lubricants became 0.2% more expensive after rising 2.8% in January m/m. Services prices were up 0.3% after a plus of 2.2% in January, also m/m.

In twelve-month comparisons, motor fuels and lubricants led the increase with 8.7% yr/yr rise after 8.5% in January. Strong second came household energy, with 8.1% yr/yr rise after adding 6.4% in January. Next were alcoholic beverages and tobacco rising 7.6% yr/yr after 6.7% up in January.

Food prices went up 6.0% yr/yr after rising 5.5% in January.

Clothing and footwear was up 4.8% after a 2.8% yr/yr rise in January. Consumer durables were down 1.3% yr/yr after becoming 1.5% cheaper in January. Services prices were up 4.5% after a plus of 4.6% in January, also yr/yr.

EU harmonized inflation (HICP) was 0.6% m/m and 5.8% yr/yr in February, after 2.4% and 5.6% respectively in January, and 3.9% on average last year.

Core inflation with seasonal adjustment came in at 0.6% m/m and 5.4% yr/yr, after 1.6% and 4.9% in January, and 2.8% last year.

Inflation without tax changes would have been 0.7% m/m and 3.9% yr/yr, after 1.0% and 3.6% in January, and 3.8% last year.

Pensioners' basket of goods went up 1.1% m/m and 6.0% yr/yr, after 2.0% and 5.6% in January, and 4.4% on average in 2011.

ADVERTISEMENT

Almost half of Hungarians get fringe benefits, survey shows Analysis

Almost half of Hungarians get fringe benefits, survey shows

19,000 young jobseekers hired in expanded subsidy program Government

19,000 young jobseekers hired in expanded subsidy program

Manager screenings - not just for managers Interview

Manager screenings - not just for managers

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.