Increasing consumer prices in Hungary

Consumer prices in Hungary grew by an annual 2.5 percent in November, the Central Statistical Office (KSH) reported on Friday.

The pace of the increase accelerated from 2.2 percent in October.

Food prices rose by 3.4 percent and the price of tobacco and spirits jumped 7.1 percent. Clothing prices edged up 0.5 percent and consumer durable prices were 0.2 percent lower. Household energy prices increased by 1.5 percent, the price of goods in the category that includes vehicle fuel climbed 2.9 percent and service prices were up 1.0 percent. Vehicle fuel prices rose by 5.9 percent.

Core inflation, which excludes volatile fuel and food prices was up by 2.7 percent.

Inflation adjusted for a basket of goods and services used by pensioners was 2.5 percent.

In a month-on-month comparison, CPI was 0.4 percent, boosted by a 3.3 percent increase in prices of vehicle fuel and a 1.0 percent rise in clothing prices.

In a monthly analysis of inflation developments released after the publication of the KSH data, the National Bank of Hungary said its measures of underlying inflation developments continued to be at or around 2 percent and remained below the level of core inflation. The indicator for core inflation excluding the effects of indirect taxes fell to 2.2 percent in November from 2.3 percent in the previous month.