Consumer prices increase 2.3% in April
Consumer prices were 2.3% higher on average in April 2018 than a year earlier, accelerating from a 2.0% increase in the previous month. The highest price increases in this period were measured for alcoholic beverages and tobacco, as well as food, according to data released by the Central Statistical Office (KSH).
In April 2018 compared to April 2017, food prices rose by 4.2%, within which eggs became 20.5% more expensive, pasta products went up by 12.4%, butter 11.8%, milk products 7.6%, and flour 7%. Sugar became 18.7% cheaper. The highest price increase of 6.3% on average was recorded for alcoholic beverages and tobacco.
Consumers paid 1.4% more for other goods (pharmaceutical products, motor fuels, household products and recreational goods), within which 2.1% more went on motor fuels.
Electricity, gas and other fuels both became 1.3% more expensive; within the latter, firewood prices increased by 13.2% and butane and propane gas prices by 3.9%. The prices of electricity, natural and manufactured gas and purchased heat were unchanged.
Prices of services went up by 1% on average, the KSH data show. Consumers paid 1% less for consumer durables.
The consumer price index harmonized for better comparison with other EU member states stood at 2.4% in April, year-on-year. Seasonally adjusted core inflation, which excludes volatile fuel and food prices, was likewise at 2.4%. Calculating with a basket of goods and services used by pensioners, inflation was also 2.4%.
In April 2018 compared to the preceding month, consumer prices increased by 0.7% on average. Food prices rose by 0.7%, within which seasonal food items (potatoes, fresh vegetables and fruit) cost 3.9% more, while eggs (-5.5%) and butter (-1.3%) were less expensive.
The price of motor fuels rose by 2.7% month-on-month. Services became 0.6%, and alcoholic beverages and tobacco 0.2% more expensive. The price of electricity, gas and other fuels was unchanged. Consumer durables were 0.1% cheaper.
In January–April 2018 compared to the corresponding four-month period of 2017, consumer prices went up by 2.1% on average.
Consumer price data for May 2018 will be published on June 8.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.