Hungarian headline inflation accelerates in December

Hungary’s consumer prices accelerated in December on a sequential basis as well as on a year-on-year basis. On average, consumer price inflation rose 1.8 percent year-on-year. Food prices were up 1.3 percent. Meanwhile, a higher-than-average price rise of 3.5 percent was registered for other goods. Within this, consumers paid 6.8 percent more for motor fuels. The prices of alcoholic beverages and tobacco rose 2.5 percent, those of services by 1.9 percent and clothing and footwear prices rose 0.5 percent on average. The prices of electricity, gas and other fuels remained the same.

On a sequential basis, inflation accelerated 0.4 percent. Food inflation rose 0.1 percent. The prices of alcoholic beverages and tobacco rose 0.2 percent and those of services were up 0.1 percent. Prices of gas, electricity and other fuels and consumer durables remained the same.

For the whole of 2016, consumer prices rose 0.4 percent. The highest price rise was seen in alcoholic beverages and tobacco. Services inflation accelerated 1.5 percent, whereas prices of consumer durables were up 0.5 percent.