Financial News: Hungary Inflation Rises To 3.2%, Less Than Forecast

Hungary Inflation Rises To 3.2%, Less Than Forecast

11/12/2024 - 05:45:00 (RTTNews)

(RTTNews) - Hungary's consumer price inflation increased slightly in October after easing in the previous two months, the Hungarian Central Statistical Office said on Tuesday.

Consumer prices climbed 3.2 percent year-on-year in October, faster than the 3.0 percent rise in September. Economists had expected inflation to rise to 3.5 percent.

Further, the inflation rate came above the central bank's target of 3.0 percent.

However, core inflation softened to 4.5 percent from 4.8 percent a month ago.

The annual price growth in food products accelerated to 4.5 percent from 3.7 percent, while costs for services grew at a slower pace of 7.2 percent versus an 8.4 percent surge a month ago. Data showed that utility costs were 4.8 percent cheaper compared to last year.

On a monthly comparison, consumer prices edged up 0.1 in October amid a 0.8 percent rise in prices of motor fuels.

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