Financial News: Hungary Inflation Eases To 24.0%, Lowest In 5

Hungary Inflation Eases To 24.0%, Lowest In 5 Months

05/10/2023 - 08:38:00 (RTTNews)

(RTTNews) - Hungary's consumer price inflation moderated slightly more-than-expected in April to the lowest level in five months, though it remained strong overall, data from the Hungarian Central Statistical Office showed on Wednesday.

The consumer price index, or CPI, climbed 24.0 percent year-on-year in April after a 25.2 percent rise in March. Economists had expected inflation to ease to 24.2 percent.

Similarly, the core inflation eased to 24.8 percent from 25.7 percent in the previous month. The expected rate was 25.1 percent.

Food price inflation moderated to 37.9 percent from 42.6 percent in March. The annual price growth for electricity, gas, and other fuels softened to 41.8 percent from 43.1 percent.

Prices for consumer durables and alcoholic beverages and tobacco grew by 18.0 percent and 20.5 percent, respectively. Service charges gained 14.0 percent.

On a monthly basis, consumer prices increased 0.7 percent versus a 0.8 percent rise in March.

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