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Financial News: Hungary Inflation Surges In April

Hungary Inflation Surges In April

05/10/2022 - 10:13:00 (RTTNews)

(RTTNews) - Hungary's consumer price inflation accelerated sharply in April, led by higher prices for food and consumer durables, data from the Hungarian Central Statistical Office showed on Tuesday.

The consumer price index rose 9.5 percent year-on-year in April, following an 8.5 percent increase in March. Economists had expected a 9.0 percent rise.

Inflation accelerated for a fourth straight month.

Price for food grew 15.6 percent annually in April and those of alcoholic beverages and tobacco rose 5.0 percent. Prices for consumer durable and services grew by 17.8 percent and 6.3 percent, respectively.

On a month-on-month basis, consumer prices rose 1.6 percent in April, following a 1.0 percent increase in the prior month.

Core consumer prices rose 10.3 percent annually in April. Economists had forecast a rise of 9.6 percent.

On a monthly basis, the core CPI increased 1.8 percent in April.

The EU measure of harmonized index of consumer prices, or HICP, gained 9.6 percent annually in April and rose 1.7 percent from the prior month.

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