Hungary August Inflation Increases More Than Expected

(RTTNews) - Hungary's annual inflation accelerated more than expected in August, data released by the Central Statistical Office showed Monday.

The consumer price index grew 3.6 percent year-on-year in August. Economists expected prices to rise 3.4 percent, following July's 3.1 percent growth.

Food prices rose 6.3 percent annually, while clothing and footwear prices moved up 3.8 percent during the month. Meanwhile, there was a 1.3 percent annual decline in prices of consumer durable goods in August.

On a monthly basis, consumer prices edged down 0.1 percent, which was in line with economists' forecast. In July, prices dropped 0.3 percent month-on-month.

At the same time, the harmonized index o consumer prices (HICP), which is measured under the EU methodology, rose 3.5 percent annually in August, while month-month, they dropped 0.1 percent. Core consumer prices, excluding selected items increased 3.1 year-on-year, and rose 0.2 percent on a monthly basis in August, the agency said.

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