Hungarian consumer price inflation remains stable year-on-year in January

Hungarian consumer price inflation came in line with expectations in January 2018. On a year-on-year basis, the headline inflation rose 2.1 percent, showed the Hungarian Central Statistical Office. This is the same as the 2.1 percent rise recorded in the prior month. Meanwhile, core prices came in at 2.5 percent in the month, a bit lower than 2.6 percent recorded in December.

On a year-on-year basis, prices of food rose 4.4 percent. The highest price increase of 6.5 percent on average was recorded for alcoholic beverages and tobacco. Electricity, gas and other fuels came in at 1.6 percent. Meanwhile, services inflation came in at 0.8 percent and that of clothing and footwear came at 0.2 percent on average. Consumers paid 0.1 percent less for other goods, within which 1.3 percent less for motor fuels, and 0.5 percent less for consumer durables.

On a sequential basis, consumer prices rose at an average rate of 0.3 percent. Prices of food were up 1.5 percent. The price of other goods rose 0.8 percent, whereas that of alcoholic beverages and tobacco rose 0.6 percent. The price of gas, electricity and other fuels rose 0.1 percent. The consumer durables price remained the same in the month. Price of clothing and footwear came in 2.9 percent less for consumers due to the end-of-season sale. The price of services was cut by 0.5 percent.

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