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Hungary CPI accelerates to 4.7% in April

Hungarian consumer prices rose 4.7% year-on-year in April, accelerating from 4.5% in March, the Central Statistical Office (KSH) said on Wednesday. Food, fuel and household energy were the main factors behind the twelve-month increase.

The headline figure was over the 4.6% analyst consensus.

Twelve-month CPI has risen each month after dropping to 4.0% in January.

April consumer prices rose 0.6% in a month after a 1.1% monthly rise in March.

Consumer prices in January-April were on average 4.3% higher than a year earlier.

Seasonally adjusted core inflation, which excludes volatile fuel and food prices, slowed to 0.3% a month from 0.8% in March but rose in a twelve-month comparison to 2.7% from 2.5% in March.

Excluding tax changes, March consumer prices were up 0.6% a month as was the headline index and were up 4.6% year-on-year (yr/yr), just less than the headline figure. The tax-adjusted index showed a 1.1% a month and 4.4% yr/yr increase in March.

Harmonized CPI, calculated with European Union methodology, slowed both on a monthly basis, dropping to 0.7% a month from 1.0% in March, and in a twelve-month comparison, falling to 4.4% yr/yr from 4.6% yr/yr in March.

Pensioners’ CPI was 5.3% in a twelve-month comparison and 0.7% in a month-on-month comparison, both above the average. The respective increases were 5.3% and 1.2% in March.