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Consumer prices up 2.5% in September

Consumer prices in Hungary rose 2.5% year-on-year in September, slowing slightly from a 2.6% increase in August, according to a first release of monthly data from the Central Statistical Office (KSH) on Tuesday. The highest price rises over the past year were measured for alcohol and tobacco, as well as motor fuels and food.

State news wire MTI noted that emerging market analysts in London had expected the inflation rate to pick up to 2.7%-2.8%.

In September 2017 compared to September 2016, food prices rose by 3.1%, within which the price of butter rose by 16.5%, cheese by 9.5%, pork by 8.5%, coffee by 7.1%, bread by 5.9%, and other meat preparations by 5.8%. The price of poultry meat fell by 12.9%.

The highest price rise of 6.0% on average was recorded for alcoholic beverages and tobacco.

The price of other goods (pharmaceutical products, motor fuels, household products and recreational goods) was up by 2.7% on average, within which the price of motor fuels rose by 5.3%.

Prices of services rose by 1.8%, while prices of electricity, gas and other fuels increased by 1.0%. Consumers paid 1.1% more for clothing and footwear, while consumer durables cost 0.1% less.

MTI noted that seasonally adjusted core inflation, which excludes volatile fuel and food prices, accelerated further in September, to 2.9%, the highest rate recorded since January 2014.

In September 2017 compared to the previous month, consumer prices increased by 0.1% on average.

In January–September 2017 compared to the same nine-month period of 2016, consumer prices rose by 2.4% on average.