Grim news: Inflation in Hungary up again after 14 months of decline

Inflation in Hungary increased again, as the country’s consumer price index in April was 3.7 percent higher than the same month a year earlier, the Central Statistical Office (KSH) said on Friday.

Inflation in Hungary up again, March inflation: 3.6%

Compared with March, prices rose by an average of 0.7 percent.

Food prices rose by 1.0 percent. Household energy prices fell by 4.5 percent, albeit from a high base. Gas prices were 9.2 percent lower and electricity prices declined by 2.9 percent, KSH reports.

Consumer durable prices edged down by 1.7 percent. Prices in the category of goods that includes vehicle fuel rose by 3.9 percent, with vehicle fuels up by 3.5 percent.

Harmonised inflation, adjusted for better comparison with other European Union member states, was 3.6 percent.

Core inflation, which excludes volatile fuel and food prices, was 4.1 percent.

The CPI calculated with a basket of goods and services used by pensioners was 3.7 percent.

Commenting on the data, Márton Nagy, the national economy minister, said inflation remained low, in line with the trend in earlier months. Inflation, which fell to one-seventh of last year’s CPI, posed no challenge to the national economy, he added.

Nagy said the government had successfully protected families, companies and jobs through targeted and effective measures. Stable, low inflation contributed to re-starting the economy through growing real wages and a gradual pickup in consumption, he added.

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