KSH: Hungary’s CPI up 0.1% in October

London-based emerging markets economists said ahead of today’s data release of consumer price figures that Hungary’s headline year-on-year consumer inflation is likely to have accelerated to around zero in the past few months, as inflation was driven especially low last year due to utility price cuts, Hungarian news agency MTI reported early this morning. 

Food prices rose by a y.o.y. 1.7% in October, with the price of milk being cut by 9.8%, cheese prices by 8.2% and pork prices by 2.5%, KSH reported.

The price of alcoholic beverages and tobacco saw a rise of 3.7% in October, while the price of consumer durables rose by 1.8%, services by 1.7% and clothing and footwear by 0.5% on average, KSH data reveals.

According to KSH, the price of electricity, gas and other fuels was cut by 0.4% on average in October, and within this, the price of butane and propane gas by 13.9%.

Consumers paid 6.3% less for other goods (including pharmaceutical products, motor fuels, household products and recreational goods), and within this, 16.5% less for motor fuels, KSH said.

In a month-on-month comparison, consumer prices increased by 0.2% on average. Food prices rose by 0.8%, the price of consumer durables was up 0.4%, the price of alcoholic beverages and tobacco by 0.3%, while the price of electricity, gas and other fuels was unchanged, KSH said. The price of services was reduced by 0.2%, within which the price of recreational services was reduced by 1.3%, KSH added.