Hungary CPI Edges Down to 1.8% in May

Hungary's annualized consumer price index fell to 1.8% to in May from 2.1% in the previous month, according to data released by the Central Statistical Office (KSH) on Tuesday.

Food prices inched up 0.5%, but fell 2.1% excluding the price of eating out. Pork prices fell 10.1% and potato prices dropped 2.6%, but fresh fruit prices rose 4.5%.

Household energy prices fell 2.0% as piped gas prices slipped 7.1% but electricity prices increased 2.5%. Consumer durable prices rose 2.4%.

Motor fuel prices increased 2.0%. The government rolled out petrol and diesel price caps for Hungarian motorists early in March. Prices of spirits and tobacco products increased 3.3% and clothing prices rose 1.1%. Service prices were up 4.3%.

CPI adjusted for better comparison with other European Union member states was 2.3%. Core inflation, which excludes volatile fuel and food prices, was 2.0%. The CPI calculated with a basket of goods and services used by pensioners was 1.5%.

In a month-on-month comparison, consumer prices were flat. Food prices, excluding the price of eating out, fell 0.6%. Service prices edged up 0.2%, household energy prices were down 0.8% and motor fuel prices stagnated.