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Hungary Inflation Eases Unexpectedly to 3.7%

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HUNGARY’s inflation moderated unexpectedly in June after rising in the previous two months, the Hungarian Central Statistical Office said on Tuesday.

Consumer prices had climbed to 3.7 per cent year-on-year in June, slower than the 5-month high of 4.0 per cent in May.


Meanwhile, economists had expected inflation to remain stable at 4.0 per cent.

Nonetheless, inflation remained above the central bank’s target of 3.0 per cent.

At the same time, core inflation rose marginally to 4.1 per cent from a 32-month low of 4.0 per cent a month ago.

Costs for clothing and footwear were 4.1 per cent higher, though slower than the 4.7 per cent rise in May.

The data showed that utility costs continued to fall by 2.7 per cent.

Meanwhile, food price inflation accelerated somewhat to 1.1 per cent from 1.0 per cent.

On a monthly comparison, consumer prices remained flat in June versus a 0.1 per cent drop in the prior month.

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