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Hungary CPI slows to 3.9% in May

Consumer prices in Hungary rose 3.9% in May from the same month a year earlier, slowing from a 4.7% increase in April, the Central Statistics Office (KSH) said on Wednesday.

The headline CPI figure is below the 4.5% estimate by Hungarian analysts and the 4.4% estimate by emerging market analysts in London.

Food prices rose 8.6% in May compared to 9.4% in April. Household energy prices rose 4.4% in May, about half of the 8.4% increase in April. Service prices rose 1.9% in May, practically level with the 2% increase in April. Consumer durables fell 1.1% in May after dropping 1.4% in April. Prices in the "other goods" category, which includes vehicle fuel, climbed 5.5% in May, after a 6.4% rise in April.

In a month-on-month comparison, consumer prices edged up 0.2% in May, following a 0.6% rise in April. Food prices were up 0.4% in May, slowing from a 1.2% increase in April. Household energy prices inched up 0.2% in May, after rising 0.1% in April. Prices in the category that includes vehicle fuels fell 0.1% in May after climbing 0.9% in April. Service prices were up 0.3% in May, level with the rise in April. Consumer durable prices slipped 0.1% in May, after a 0.3% fall in April.

Seasonally-adjusted core inflation, which excludes volatile food and fuel prices, was up 2.7% year-on-year and up 0.2% month-on-month in May.

Hungary's CPI harmonized with the other European Union member states was up 3.9% year-on-year and up 0.2% month-on-month.