Hungary’s consumer price inflation moderated more-than-expected in January to the lowest level in nearly eight years, the Hungarian Central Statistical Office said on Thursday.
Consumer prices climbed 2.1 percent year-on-year in January, slower than the 3.3 percent rise in December. Economists had expected inflation to ease to 2.4 percent.
Further, this was the lowest inflation rate since March, when prices rose 2.0 percent. The inflation rate is below the central bank’s medium-term target of 3.0 percent.
Core inflation also softened to 2.7 percent from 3.8 percent a month ago.
Inflation based on food slowed to 1.3 percent from 2.6 percent, and the annual price growth in fuel and power eased to 6.2 percent from 8.9 percent. Similarly, costs for services grew at a slower pace of 5.0 percent versus 6.8 percent in December.
On a monthly comparison, consumer prices moved up 0.3 percent after a 0.1 percent slight increase in December.
For comments and feedback contact: editorial@rttnews.com
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
