Hungary: Consumer prices rise in July
August 12, 2014
In July, consumer prices rose 0.2% over the previous month, according to the statistical office. The rise, which followed the 0.1% price increase recorded in June, reflected that an increase in prices for services as well as for alcoholic beverages and tobacco more than offset lower prices for electricity, gas and other fuels, clothing and footwear and foodstuffs.
Consumer prices in July rose 0.1% over the same month last year, which contrasted June’s 0.3% drop and marked the highest inflation rate in four months. As a consequence, annual inflation still remains well below the Central Bank’s target of 3.0%, with a tolerance margin of plus/minus 1.0%. The core inflation index, which excludes volatile items such as fresh food and fuel, rose 0.2% over the previous month (June: +0.1 month-on-month). Meanwhile, annual core inflation stabilized at June’s 2.5% in July.