April Consumer Prices Down 0.1 Pc In One Year

Budapest, May 13 (MTI) – Hungarian consumer prices eased 0.1 percent in the twelve months to April, the Central Statistical Office (KSH) said on Tuesday.

The twelve-month consumer price index (CPI) fell below zero for the first time since 1968, KSH statistician Borbala Minary said, adding that this could not be called deflation, however, “because deflation is prolonged negative inflation.”

Analysts polled by business daily Napi Gazdasag had forecast April inflation at 0.2 percent. The estimates of London-based emerging market analysts varied between 0.1 percent and 0.2 percent.

Part of the drop reflected the latest of a series of regulated price cuts that reduced the base fee for gas in April, but it was foods that weighed on prices more heavily, Minary said, adding that prices for fuel, clothing and durable goods also continued to fall in annual terms.

Price growth of alcohol and tobacco was more moderate than expected, the KSH added.

April core inflation, stripping out fuel and food, was 2.4 percent.

Photo: Daily News Hungary

Source: http://mtva.hu/hu/hungary-matters