KSH: Hungary’s inflation slows to 0.3% in February
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Hungary’s Consumer Prices Index slowed to a growth of 0.3% in February, as compared to the same month a year earlier, and from January’s year-on-year growth of 0.9%, Hungary’s Central Statistical Office (KSH) reported today. The highest price rise was recorded for alcoholic beverages and tobacco, while motor fuel prices decreased significantly.
In year-on-year terms in February, food prices rose 1.3%. An average price rise of 2.6% was observed for alcoholic beverages and tobacco, 1.8% for consumer durables, 1.3% for services and 0.1% for clothing and footwear, according to data by KSH.
KSH said that consumers paid 3.9% less for other goods, including 11.2% less for motor fuels. The price of electricity, gas and other fuels was cut by 0.1% on average, within which the price of butane and propane gas was cut by 10.4%, KSH added.
KSH department head Borbála Minary said the lower CPI was clearly the result of falling vehicle fuel prices, which were down 3.7%, Hungarian news agency MTI reported. She noted that pork prices fell 1.2% and said the impact of a VAT cut to 5% from 27% was mainly seen in January.
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