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Financial News: Hungary Inflation Eases Further To 3.8%, Lowest In

Hungary Inflation Eases Further To 3.8%, Lowest In Nearly 3 Years

02/09/2024 - 07:35:00 (RTTNews)

(RTTNews) - Hungary's inflation eased further in January to the lowest level in nearly three years, largely due to a slowdown in food prices along with cheaper costs for utilities, the Hungarian Central Statistical Office said on Friday.

Consumer prices climbed 3.8 percent year-on-year in January, slower than the 5.5 percent rise in December. The expected rate was 4.4 percent.

The latest rate was the weakest since March 2021, when inflation stood at 3.7 percent.

Core inflation weakened to a more than two-year low of 6.1 percent from 7.6 percent a month ago. The rate was also below economists' forecast of 6.4 percent.

Food prices rose at a slower pace of 3.6 percent after rising 4.8 percent in December. At the same time, utility costs were 11.3 percent less expensive.

On a monthly comparison, consumer prices moved up 0.7 percent, reversing a 0.3 percent drop in December.

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