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Surprise, again: CPI up just 0.1% in February

Figures

The Central Statistics Office (KSH) has officially announced Hungary’s consumer price inflation (CPI) to have increased by 0.1% year-on-year in February. KSH noted significant decreases in prices of electricity, gas, motor fuels, durable consumer goods and clothing, while prices increased for alcoholic beverages, tobacco and services. 

The 0.1% mark again fooled analysts from the likes of Barclays, JP Morgan and 4cast; while the range of estimates provided by the London-based economists varied widely, the lowest reported guess prognosticated monthly CPI at 0.2%. 

Month-on-month, prices increased by a like 0.1% after last month’s even 0% rate. Food product prices increased 0.2% m.o.m., while notable decreases were seen in clothing (with a 1.2% upswing) and services (up 0.3%).

The increase in prices on alcoholic beverages and tobacco rose highest y.o.y. among all subcategories to 8.1%.

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