Financial News: Hungary Inflation Rises To 3.7% In November

Hungary Inflation Rises To 3.7% In November

12/10/2024 - 07:08:00 (RTTNews)

(RTTNews) - Hungary's consumer price inflation increased further in November to the highest level in four months, the Hungarian Central Statistical Office said on Tuesday.

Consumer prices climbed 3.7 percent year-on-year in November, faster than the 3.2 percent rise in October. Economists had expected inflation to rise to 3.8 percent.

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

However, core inflation softened slightly to 4.4 percent from 4.5 percent a month ago.

The annual price growth in food products accelerated to 4.9 percent from 4.5 percent, and costs for services grew sharply, though at a slightly slower pace of 7.0 percent versus a 7.2 percent surge a month ago.

Data showed that utility costs were 3.2 percent cheaper, albeit the rate of decline eased from 4.8 percent seen in the prior month.

On a monthly comparison, consumer prices moved up 0.5 in November after rebounding 0.1 percent in October.

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