KSH: Inflation increases 0.9% in November
According to figures released by the Central Statistics Office (KSH) today, consumer prices in Hungary increased by 0.9% year-on-year in November 2013. Aside from the decreased prices of electricity, gas, motor fuels, consumer durable goods, clothing and footwear, a price rise was observed in alcoholic beverages, tobacco and services.
In November, consumer prices decreased by 0.1% month-on-month. The same decrease was seen in food prices. The price rise of alcoholic beverages and tobacco was the highest among the sectors m.o.m. at 1.0%. In case of clothing and footwear prices grew by 0.8% m.o.m., which KSH attributed as mainly due to seasonal changes. A slight price rise was seen in services (0.2%).
Electricity, gas and other fuels prices decreased by 1.4% m.o.m. at a rate higher than the average. In case of other goods (including household and pharmaceutical products, motor fuels and recreational goods), the price decrease was 0.5% m.o.m. Consumers also paid 1.9% less for motor fuels. Prices of consumer durable goods decreased slightly, by 0.1%.
Year-on-year, food prices grew by 0.4% in November; prices increase was observed in cheese (8.2%), milk (6.0%) and pork (2.2%), whereas prices decreased for flour (17.6%), eggs (13.7%) and sugar (11.5%). The price rise of alcoholic beverages and tobacco was higher than the average at 10.6%.
For natural gas and electricity, the 10% government-mandated price reduction of November will appear in the consumer price index for December.
In the European Union’s 28 member states, meanwhile, annual inflation for October 2013 was up 0.9% y.o.y., with the lowest annual rates observed in Greece (-1.9%) and Bulgaria (-1.1%) and the highest in the United Kingdom (2.2%) and Estonia (2.2%). Hungary's rate for that month was 0.9%.
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