CPI surprises analysts with 0.9% drop

Figures

Hungary’s deflationary trend outdid expectations of analysts as the consumer price index dropped a year-on-year 0.9% in December, accelerating from November’s drop of 0.7%, the Central Statistics Office (KSH) reported today.

London analysts polled by MTI's London correspondent, said yesterday that they expected Hungary's CPI to drop by a year-on-year 0.4% in December.

In year-on-year terms, food prices dropped 0.6% overall, and in detail the decreases were as follows: sugar (19.6%), edible oil (5.2%), seasonal food items (4.5%) and flour (3.9%), KSH said. Prices reportedly rose for eggs (3.9%), chocolate, cocoa (1.7%) and milk (1.2%). The price increase of services was 1.5%, in case of alcoholic beverages and tobacco it was 1.2%, KSH reported.

The price of motor fuels dropped by a year-on-year 10.4%, while the prices of electricity, gas and other fuels dropped by 5.4%. According to KSH, consumers paid 6.5% less for natural gas, 5.7% less for electricity, and 5.3% less for purchased heat compared to the corresponding month of the previous year.

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