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Financial News: Hungary Inflation Accelerates More Than Forecast

Hungary Inflation Accelerates More Than Forecast

07/08/2022 - 08:33:00 (RTTNews)

(RTTNews) - Hungary's consumer price inflation quickened for the sixth successive month in June, and at a faster-than-expected pace, preliminary data from the Hungarian Central Statistical Office showed on Friday.

The consumer price index surged 11.7 percent year-over-year in June, following a 10.7 percent rise in May. Economists had expected inflation to increase to 11.5 percent.

The upward trend in inflation was largely driven by a 22.1 percent jump in food prices. This was followed by a 12.4 percent rise in consumer durable goods.

Prices for alcoholic beverages and tobacco grew 7.3 percent and those for other goods, including motor fuels, gained 11.6 percent.

On a monthly basis, consumer prices went up 1.5 percent in June, after a 1.7 percent rise in the prior month.

Core consumer prices climbed 13.8 percent annually in June. That was above the 13.0 percent increase expected by economists.

On a monthly basis, the core CPI increased 2.0 percent in June.

The EU measure of harmonized index of consumer prices, or HICP, gained 12.6 percent annually in June and rose 2.0 percent from the prior month.

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