KSH: Hungary’s CPI keeps dropping in August

Figures

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Hungary’s consumer price index (CPI) continued dropping in August, following the trend of the past few months, a first release of data published today by the Central Statistical Office (KSH) reveals.

CPI was 0.1% lower on average in August compared to the same month a year earlier, while dropping by 0.4% on average compared to the previous month. 

In year-on-year comparison, Hungarians paid 0.6% more for food in August 2016. The price of sugar increased by 24.3%, edible oil by 7.8% and seasonal food items by 6.4%, while while pork prices were cut by 11.6%, eggs by 5.5% and milk by 4.6%.

Alcoholic beverages and tobacco became 1.9% more expensive year-on-year. Services were 1.1% and clothing and footwear 0.6% dearer on average in August compared to a year earlier, while prices of consumer durables were unchanged, the KSH said.

Consumers paid 4.1% less for other goods in August compared to the same month a year earlier, within which they paid 11.4% less for motor fuels, while prices of electricity, gas and other fuels were reduced by 0.1%, the KSH reported.

Compared to the previous month, Hungarians paid 0.3% less for food in August, which was mainly due to a 4.7% decrease in prices of seasonal food items, the KSH comments. Prices of alcoholic beverages and tobacco were up by 0.1% on average, while consumers paid 0.1% more for services as well. Prices of electricity, gas and other fuels, as well as consumer durables, were unchanged overall. 

Consumer prices rose by 0.1% on average in the first eight months of 2016 compared to January-August 2015.

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