KSH: Hungary’s CPI growth slows to 0.4% in July
Breaking a five-month rising trend, Hungary’s Consumer Prices Index (CPI) saw a year-on-year growth of 0.4% in July, following a y.o.y. rise of 0.6% in June, despite analystsʼ expectations of a 0.5% rise, Hungary’s Central Statistical Office KSH reported today in a first reading of data.
In year-on-year terms, KSH data suggest that food prices rose by 0.9%, while alcoholic beverage and tobacco prices rose 3.9%. Consumers paid an average of 1.9% more for services, and within this, 6.3% more for recreational services, KSH added. An average price rise of 1.0% was measured in the case of consumer durables, while consumers paid 2.8% less for other goods. The price of electricity, gas and other fuels was cut by 2.7% on average, and within this, the price of electricity by 5.7% and that of purchased heat by 3.4%.
In month-on-month terms, consumer prices were unchanged on average, KSH said. Food prices decreased by 1.1%. The price of services rose the most, by 0.9%, and in this group consumers paid 6.9% more for recreational services. Slight price rises were observed in the case of alcoholic beverages and tobacco as well as consumer durable goods (0.3% each). The price of other goods grew by 0.2% on average, and within this group, motor fuels prices were up by 0.7%. The price of electricity, gas and other fuels remained unchanged.
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