Are you sure?

Hungary CPI accelerates slightly to 5.3% in June

Hungary's twelve-month consumer price index was 5.3% in June, picking up slightly from 5.1% in May, data published by the Central Statistical Office (KSH) on Tuesday show.

City analysts had expected the twelve-month rate in June to remain level or close to that in May.

In a month-on-month comparison, consumer prices rose 0.2%, slowing from 0.9% in May.

Household energy prices were behind both the twelve-month and the month-on-month increases. They rose 9.7% in a twelve-month comparison and 0.9% month-on-month. KSH attributed the higher energy prices to changes to subsidies. In a twelve-month comparison, gas prices rose 13.6% and electricity prices climbed 12.3%, while district heating prices plunged 16.6%.

In a twelve-month comparison, food prices inched up 1.1%, but alcohol and tobacco prices climbed 10.2%. Clothing prices dropped 2.5% and consumer durable prices rose a slight 0.6%. Services prices were up 5.5% and prices in the “other goods” category, which includes vehicle fuel, increased 9.1%.

In a month-on-month comparison, food prices rose a sharp 0.8%, mainly because of a 7.0% increase in the price of seasonal food. Excluding seasonal food, food prices fell 0.3%. Alcohol and tobacco prices were flat, clothing prices fell 1.6% and consumer durable prices inched down 0.2%. Service prices rose 0.2% and prices of other goods, including vehicle fuel, slipped 0.1%.

Excluding the effect of volatile fuel and food prices, consumer prices rose 3.5% in June from the same month a year earlier.

Hungary's twelve-month harmonized consumer price index, comparable to indices calculated for other European Union countries, was 5.0% in June. (MTI-Econews)