Hungary: Consumer prices stable at record-low in May
June 12, 2014
In May, consumer prices decreased 0.2% over the previous month according to the statistical office. The decline, which contrasted the 0.1% rise recorded in April, reflected that a drop in prices for energy and consumer durables more than compensated for higher prices for clothing and footwear as well as for foodstuff.
In May, consumer prices fell 0.1% over the same month last year, matching April’s print which had marked a record-low. As a consequence, annual inflation stayed 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 (April: +0.1% month-on-month). Meanwhile, annual core inflation rose from 2.3% in April to 2.5% in May.