Financial News: Hungary Inflation Eases Unexpectedly To 3.7%, Lowest In

Hungary Inflation Eases Unexpectedly To 3.7%, Lowest In Almost 3 Years

03/08/2024 - 07:40:00 (RTTNews)

(RTTNews) - Hungary's inflation eased further in February 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 3.7 percent year-on-year in February, slightly slower than the 3.8 percent rise in January. Meanwhile, economists had expected inflation to rise to 4.0 percent.

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

Core inflation weakened to a more than two-year low of 5.1 percent from 6.1 percent a month ago. The rate was also below economists' forecast of 5.5 percent.

Food prices rose at a slower pace of 2.2 percent after rising 3.6 percent in January. At the same time, utility costs were 9.0 percent less expensive.

On a monthly comparison, consumer prices increased at a stable rate of 0.7 percent in February.

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