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Hungary Inflation 5.5% in September

MTI-Hungary Today 2021.10.08.

Hungarian inflation was an annual 5.5 percent in September, the Central Statistical Office (KSH) said on Friday. The last time inflation was higher than this was nine years ago, in October 2012.

CPI was driven by higher cigarette, spirits and vehicle fuel prices, with spirits and tobacco prices rising 11.2 percent, lifted by a 17.8 percent increase in tobacco prices. Prices in the category of goods that includes vehicle fuel grew by 9.8 percent, as vehicle fuel prices jumped 21.6 percent.

Food prices were up by 4.4 percent, household energy prices edged 0.6 percent higher, consumer durable prices rose by 5.1 percent and clothing prices increased by 0.5 percent. Service prices rose by 3.2 percent.

Rate-setters Point to Persistence of Upside Risks Surrounding Inflation Outlook
Rate-setters Point to Persistence of Upside Risks Surrounding Inflation Outlook

Therefore, the tightening cycle that started in July will be continued on a monthly basis, though at a slower pace.Continue reading

Core inflation, which excludes volatile food and fuel prices, was an annual 4.0 percent in September.

CPI calculated with a basket of goods and services used by pensioners stood at 5.0 percent.

In a month-on-month comparison, inflation was 0.2 percent.

Featured photo illustration by Attila Balázs/MTI