Hungary inflation eases to 4.3% in July as core inflation continues to slow
Investing.com -- Hungary’s annual inflation rate decreased to 4.3% in July, down from 4.6% in June, though the slowdown was less than anticipated. Consumer prices rose 0.4% month-over-month, according to the latest data.
Core inflation continued its downward trend, reaching 4% year-over-year in July compared to 4.4% in June.
Food prices increased by 0.3% monthly, with seasonal fruits, confectionery products, chocolate, and cocoa contributing to the rise. Services saw a more significant 1% monthly increase, largely due to an 8.9% jump in recreational service prices.
Household energy costs climbed 1.2% in July, with gas prices specifically rising 2.3% compared to May. This increase was attributed to the Central Statistical Office’s special accounting method and colder weather conditions in May.
Vehicle fuel prices rose 0.3% month-over-month, while pharmaceutical product prices also increased by 0.3%, reflecting government-mandated price reduction measures.
Clothing prices fell 1.4% due to summer seasonality, and durable goods prices decreased by 0.2%, potentially supported by stability in the forint currency.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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