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Hungary consumer prices climb 3.1% in July, less than expected

Consumer prices in Hungary climbed 3.1% in July from the same month a year earlier, slowing from a 3.5% increase in June, the Central Statistics Office said on Thursday.

Analysts had put the headline figure at 3.3%-3.5%.

Food prices climbed 5.4% and clothing prices rose 4.9%, but consumer durable prices fell 1.4%. Household energy prices were up 3.5%, prices in the "other items and vehicle fuel" category increased 4.4% and service prices edged up 2.1%.

Seasonally-adjusted core inflation, which excludes volatile fuel and food prices, rose 3.2%. Excluding tax changes, prices were up 3.0% from the base period. CPI for pensioners was 3.4%.

In a month-on-month comparison, consumer prices fell 0.3% in July after edging down 0.2% in June. Food prices fell 1.2%, clothing prices dipped 2.5% and consumer durable prices inched down 0.2%. Household energy prices were up 0.1% and services prices rose 0.7%, but prices for other items and vehicle fuel were down 0.5%.

Seasonally-adjusted core inflation was up 0.3% on the month. Excluding tax changes, prices slipped 0.3%. Pensioners CPI was negative 0.4%.