Hungary CPI Edges Up to 2% in October

Hungary's annualised consumer price index rose to 2.0% in October from 1.6% in the previous month, data released by the Central Statistical Office (KSH) on Tuesday show.

Food prices dropped 1.1%, but fell a steeper 4.1% excluding the price of eating out. The price of potatoes rose 14.0% and cooking oil was 6.2% dearer, but fresh fruit prices dropped 12.9%, pork prices fell 10.9% and poultry was 5.1% cheaper.

Household energy prices fell 4.3% as piped gas prices slipped 11.2% but electricity prices edged up 1.2%. Consumer durable prices rose 1.4%. Motor fuel prices climbed 11.3%. Prices of spirits and tobacco products increased 3.2% and clothing prices inched down 0.6%. Service prices were up 5.2%.

CPI adjusted for better comparison with other European Union member states was 2.4%. Core inflation, which excludes volatile fuel and food prices, was 2.1%. The CPI calculated with a basket of goods and services used by pensioners was 1.4%.

In a month-on-month comparison, consumer prices increased 0.4%. Food prices, excluding the price of eating out, edged up 0.2%. Service prices inched 0.2% higher, household energy prices fell 0.3% and motor fuel prices climbed 3.0%.

Commenting on the fresh data in a social nmedia post, Finance Minister Andras Karman attributed the uptick in inflation to motor fuel prices. He added that the data were "favourable" compared to other EU member states.