Hungary's August CPI slows to +3.4% y/y, below forecast -stats
Sept 10 (Reuters) -Hungarian headline inflation HUCPIY=ECI slowed down to an annual 3.4% in August from 4.1% in July, belowanalysts' expectations of a 3.6% increase, the Central Statistics Office (KSH) said on Tuesday.
Core inflation HUCPIC=ECI, slowed down to4.6% inAugust from 4.7% in July, below a 4.7% forecast in a Reuters survey. Prices remained unchangedon average from the previous month, the KSH said.
Average inflation for 2023 was 17.6%.
As of April 2021, the KSH no longer includes alcohol and tobacco prices in its core inflation figure. The National Bank of Hungary targets 3% headline inflation with a tolerance band of a percentage point on either side.
Food prices increased by 2.4% year-on-year, and household energy prices became 4.3% less expensive. Consumer durables prices decreasedby 0.2%, with prices of new cars jumping 6.6%, while services prices rose by 9.5% in annual terms.
INFLATION (% change) | August 2024 | July 2024 | Aug 2023 |
Headline CPI m/m | 0.0 | +0.7 | +0.7 |
Headline CPI y/y | +3.4 | +4.1 | +16.4 |
Core CPI y/y | +4.6 | +4.7 | +15.2 |
Reporting by Tymon Miller and Mateusz Rabiega in Gdansk
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