Central Statistics Office: August inflation rate 1.3%

A report from the Central Statistics Office (KSH) today shows that consumer prices were up 1.3% year-on-year for August 2013, though down 0.3% month-on-month. KSH attributed reduced prices in utilities, refuse disposal, durable consumer goods and clothing for the low increase y.o.y.

The overall rate bested the expectation of Hungary-based analysts polled by daily newspaper Napi Gazdaság, which had estimated the figure at 1.65%.

Among the highlights in this latest round of statistics:

• Consumers paid 9% less for water services in August. The average price decrease month-on-month in clothing/footwear, attributed to summer retail sales, was 2.1%.

• A price decrease of 1.0% was seen in food, while prices on alcoholic beverages and tobacco increased 0.9%. Food prices were up y.o.y., however, with a 2.7% increase over 2012, and alcohol/tobacco was up 9.1%, certainly due in part to new regulations under the National Tobacco Shop scheme.

• Y.o.y. price decreases was observed in electricity, gas and other fuels (8.7%); butane and propane gas (6.1%); and electricity/gas heating (10.1%).

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