KSH: Consumer prices in Hungary rise by 4.9 percent in August
EnglishIn August, consumer prices were on average 4.9 percent higher than a year earlier and 0.2 percent up month-on-month, the Central Statistical Office (KSH) reported.
Analysts had expected 4.7 percent annual inflation for August after the 4.6 percent rate in July.
The price of tobacco products and fuel has risen significantly over the past year, KSH said.
Core inflation rose 0.1 percentage points to 3.6 percent.
Food prices grew 3.7 percent year-on-year in August, up 0.6 percentage points from July.
The price of cooking oil rose by 30.6 percent, while that of office meals by 9.2, margarine by 9.1, poultry meat by 8.9, flour by 8.2, buffet goods by 7.2, and restaurant meals by 7.0 percent. Potatoes cost 11.3 percent more than last August, even though they were still 6.0 percent cheaper in July than a year ago. Fresh vegetable prices were 11.8 percent higher, while fresh fruit was 3.2 percent cheaper according to KSH, although in July the latter was still 7.4 percent cheaper than a year before.
Fuel prices were 21.7 percent higher than in August last year, up 1.9 percentage points from the previous month. However, the 17.0 percent annual rise in the price of tobacco products was 1.1 percentage points lower than in July. With a 2.7 percent increase in the price of alcoholic beverages, in the category of alcoholic beverages and tobacco products KSH registered a 10.5 percent increase
Durable consumer goods cost 4.4 percent more, which is 0.6 percentage points higher than the rise in July. Within this category, room furniture went up by 10.8 percent, jewellery by 10.5, kitchen and other furniture by 8.3 and new passenger vehicles by 7.9 percent.
The price of services rose by 4.9 percent, i.e. at the same rate as the overall indicator. In this category, however, freight rates grew by 7.9 percent, postal services by 7.2 percent, and holiday services by an average of 9.8 percent – foreign travel by 14.9 and domestic travel services by 5.1 percent.
In the first eight months of the year, consumer prices rose by an average of 4.3 percent for all households, by 3.9 percent for retired households, and by 4.4 percent in August, KSH said.
