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Financial News: Hungary Inflation Rises; Trade Balance Swing To Deficit

Hungary Inflation Rises; Trade Balance Swing To Deficit

10/08/2021 - 06:41:00 (RTTNews)

(RTTNews) - Hungary's consumer price inflation increased in September, data from the Hungarian Central Statistical Office showed on Wednesday.

Another report from the statistical office showed that the trade balance swung to a deficit in August.

The consumer price index rose 5.5 percent year-on-year in September, after a 4.9 percent increase in August. This was in line with economists' expectation.

Price increases were measured for food, alcoholic beverages and tobacco as well as motor fuels, the agency said.

Price for food grew 4.4 percent annually in September and those for consumer durable rose 12.9 percent. Prices of alcoholic beverages and tobacco, and services rose by 11.2 percent and 3.2 percent, respectively.

On a month-on-month basis, consumer prices increased 0.2 percent in September, same as seen in the prior month.

Core consumer prices rose 4.0 percent annually in September and increased 0.2 percent from the previous month.

The EU measure of harmonized index of consumer prices, or HICP, rose 5.5 percent annually and gained 0.1 percent from the prior month.

The trade balance registered a deficit of EUR 467 million in August versus a EUR 344 million surplus last year.

Exports grew 5.2 percent year-on-year in August, after a 10.6 percent increase in July.

Imports increased 16.0 percent annually in August, after a 15.5 percent rise in the preceding month.

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