UPDATE - Hungary consumer prices rise 3.6% yr/yr in September


Consumer prices in Hungary climbed 3.6.% in the twelve months to September, at a rate unchanged from August, and below analysts' expectations.

September consumer prices dropped 0.1% in a month as they did in August, the Central Statistics Office (KSH) said on Tuesday.

Food, vehicle fuel and household energy prices boosted the twelve-month index, while services, consumer durables, clothing and alcohol and tobacco prices tempered the rise, similar to the previous few months.

Month-on-month inflation has fallen now for the fourth month in a row, due to lower seasonal food prices, and, in a new development, to lower services prices. Consumer durable prices stopped to fall, however, with the weaker forint, and clothing and footware prices rose sharply as the summer sales ran out.

Both analysts in London and analysts polled by the business daily Napi Gazdaság forecast the September twelve-month CPI at 3.8%.

Seasonally-adjusted core inflation, which excludes volatile fuel and food prices, slowed slightly further to 3.0% yr/yr from to 3.1% in August. Month-on-month core inflation also slowed to 0.1% from 0.2%.

Excluding tax changes, September prices were up 3.5% in twelve months and were down 0.1% from the previous month as they were in August.

The harmonized consumer price index (HICP) used for EU comparisons was unchanged on the month and was up 3.7% yr/yr in September, both up from a 0.1% monthly drop and a 3.5% twelve-month rise in August.

The CPI for pensioners slowed to 3.9% yr/yr from 4.0% yr/yr in August, again exceeding the headline index. Prices for pensioners fell 0.1% on the month after dropping 0.3% in August.


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