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Consumer prices rise faster in October

Consumer prices in Hungary climbed 3.9% year-on-year in October, accelerating from a 3.6% increase in September, the Central Statistics Office (KSH) said on Friday.

CPI was over the 3.6% consensus by analysts.

In a month-on-month comparison, consumer prices were up 0.7% after edging down 0.1% in September.

Household energy and vehicle fuel prices lifted both the year-on-year and month-on-month headline figures.

Year-on-year, household energy prices were up 5.9% and prices in the "other goods" category, which includes vehicle fuel, were up 7.4%. Food prices climbed 5.1% and clothing prices rose 3.2%, but the price of consumer durables fell 1.2%. Service prices were up 2.5%.

Month-on-month, household energy prices rose 1.6% as the elimination of price subsidies lifted district heating prices by 3.9% and gas prices by 3.1%. Prices in the category of goods that includes vehicle fuel were up 1.4%. Food prices were 0.4% higher, consumer durable prices edged up 0.2% and clothing prices rose 3.8%. The price of services was down 0.2%.

Seasonally-adjusted core inflation, which excludes volatile food and fuel prices, was 3.0% year-on-year and 0.3% month-on-month.

Excluding the effects of tax changes, consumer prices were up 3.8% year-on-year and 0.7% month-on-month.

Harmonized for comparison with the other European Union member states, CPI was 3.8% year-on-year and 0.5% month-on-month.

Pensioners’ CPI was 4.1% year-on-year and 0.7% month-on-month.