Hungary CPI picks up to 2.6% in August
Consumer prices in Hungary rose 2.6% year-on-year in August, the Central Statistical Office (KSH) said today. In a month-on-month comparison, prices edged up 0.1% from July. Twelve-month CPI picked up from 2.1% in July.
Food prices were up 3.2% and prices of spirits and tobacco climbed 5.8% in the 12 months to August. Tobacco prices rose 8.9%, mainly due to an excise tax raise. Clothing prices edged up 0.3% and household energy prices rose 0.7%, but consumer durable prices edged down 0.1% year-on-year. The price of goods in the category that includes vehicle fuel rose 3.3%, and vehicle fuel prices alone rose 5.8%. Service prices were up 1.8%, national news agency MTI reports.
In a month-on-month comparison, food prices fell 0.5% from a month earlier, pushed lower by a 6.6% drop in seasonal food prices. Prices for spirits and tobacco rose most, edging up 0.7%. Both service prices and the prices of consumer durables were up 0.1%. Household energy prices remained unchanged. Clothing prices fell 1.3% on summer sales. The average price of goods in the category that includes vehicle fuel edged up 0.6%. Vehicle fuel prices rose 1.2% from July.
The CPI harmonised for better comparison with other European Union member states was 2.7% year-on-year in August. Core inflation, which excludes volatile fuel and food prices, reached 2.8% year-on-year according to seasonally adjusted calculations. The CPI calculated with a basket of goods and services used by pensioners was 2.6%. In January-August inflation was 2.4% compared to the same period last year.
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