Hungary’s CPI drops further in July

Figures

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Following the trend of recent months, Hungary’s Consumer Price Index (CPI) was down by 0.3% on average in July, compared to the same month a year earlier, the Central Statistical Office (KSH) said in a first release of data today. Motor fuel prices fell significantly, while the highest price rises were measured for alcoholic beverages and tobacco, as well as services.

In the month of July, in year-on-year terms, consumers paid 0.2% more for food, within which the price of sugar increased by 25.1%, edible oil prices by 7.1%, and seasonal food items (potatoes, fresh vegetables and fruit) by 5.7%, while pork prices fell by 14.2% and the prices of cheese and milk by 6.2%, the KSH reported.

Alcoholic beverages and tobacco became 1.8% more expensive, prices of services increased by 1.3%, clothing and footwear by 0.9%, and consumer durables by 0.2% on average, according to the KSH, while consumers paid 4.9% less for other goods, within which motor fuels became 13% less expensive. Prices of electricity, gas and other fuels were reduced by 0.1%, the report added.

Compared to the previous month, consumer prices were lower by 0.2% on average, while they increased by 0.1% on average in the January–July period compared to the corresponding period of 2015.

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