Hungary’s September Inflation Rate at Lowest Level Since January

Hungarian consumer prices were 2.8% higher in September than a year earlier and increased 0.1% from August, state news agency MTI says, citing data published by the Central Statistical Office. The headline inflation figure is the lowest since January 2019, mainly due to a 4.6% decline in fuel prices. Seasonally-adjusted core inflation, which strips out volatile food and energy prices, accelerated to an annual 3.9% from 3.7% in August.
Food and tobacco prices posted the steepest increase from a year earlier, at 5.1% and 12.3%, respectively. Pork prices, which jumped an annual 13.3%, and the 6.5% rise in seasonal food prices were the main factors driving overall food prices higher. Prices in the services sector rose 3.4%, mostly as a result of a 10.7% acceleration in home rental prices. Consumer prices in the January-September period rose an average 3.3%, exceeding the central bank’s target of 3%.