Hungary CPI accelerates to 4.3% in Nov

Consumer prices in Hungary rose 4.3% year-on-year in November, accelerating from a 3.9% increase in October on higher food and fuel prices, the Central Statistics Office (KSH) said on Tuesday.

The headline figure was over Hungarian analysts’ 4.1% estimate. Emerging market analysts base in London had put CPI between 4.2% and 4.7%.

In a month-on-month comparison, Hungary’s CPI was 0.7% in November, level with the rise in October.

In a year-on-year comparison, prices in the "other goods" category, which includes vehicle fuels, rose 8.6% as an excise tax increase came into effect. Food prices climbed 5.1% and household energy prices increased 6.3%. Service prices were up 2.5%, under the headline figure. Consumer durable prices edged down 1.4%, in spite of the weaker forint. Alcohol and tobacco prices were up 1.6% and clothing prices rose 3.4%.

In a month-on-month comparison, prices in the "other goods" category rose 1.5% and food prices climbed 1.2%. Household energy prices increased 0.5%. Services prices inched down 0.2%. The price of consumer durables slipped 0.1% but clothing prices rose 0.7%.

Excluding the effect of tax changes, consumer prices rose 3.7% year-on-year and were up 0.2% month-on-month.

Excluding the effect of volatile food and fuel prices, seasonally-adjusted prices were up 3.1% year-on-year and 0.3% month-on-month.

Harmonised CPI, used for comparison with other European Union member states, was 4.3% year-on-year and 0.6% month-on-month.

CPI for pensioners was 4.4% year-on-year and 0.7% month-on-month.