KSH: CPI decline slows, still in negative
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The Consumer Prices Index (CPI) in Hungary fell by a year-on-year 1.0% in February, following January’s y.o.y. 1.4% drop, the Central Statistics Office (KSH) said today. The decline was less than emerging market analysts in London had expected, precisely 1.2%-1.4%.
According to KSH, the year-on-year decline in prices resulted from lower household energy prices, down by 5.3%, as well as lower prices in the category of goods that include vehicle fuel, down by 6.2%. The prices of both food and consumer durables edged down by 0.4%, but spirits and tobacco prices rose 1.9% and service prices climbed 2.1%.
According to KSH department head Borbála Minary, the fresh data show the falling trend in prices is starting to turn around. Rising vehicle gas prices and food prices, especially for seasonal foods, are the biggest factors behind the change, she added.
Core inflation, which excludes volatile fuel and food prices, rose 1.0% year-on-year and edged up 0.2% month-on-month, Hungarian news agency MTI said, adding that calculating with prices in a consumer basket for pensioners, the index fell 0.5% year-on-year but rose 0.5% month-on-month.
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