KSH altering core inflation calculation
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Hungary's Central Statistics Office (KSH) yesterday said it will change the way it calculates core inflation, removing spirits and tobacco products from the index.
The modification, taken in line with best practices in Europe, will reduce overlap between headline inflation and core inflation, which excludes volatile fuel and food prices, from 73% to 63%, KSH said.
The changes will take effect from the release of April CPI, it added. Higher tobacco prices, lifted by European Union-mandated excise tax increases, have driven recent rises in headline inflation. KSH will release the April CPI on May 11.
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