June CPI Climbs to 11.7%


Consumer prices in Hungary rose by an annual 11.7% in June, accelerating from 10.7% in May, the Central Statistical Office (KSH) said on Friday.


The KSH data show food prices rose by 22.1% as the price of poultry climbed 37.1%, bread prices by 39.7% and milk prices by 24.9%. The government capped prices for a number of staples, including pork, cooking oil and flour, at mid-October levels from February 1 in an effort to dampen inflation. Prices of spirits and tobacco products increased by 7.3%. Clothing prices rose by 4.3%, consumer durables by 12.4% and household energy prices by 1.6%. Service prices increased by 5.6%. Core inflation, which excludes volatile fuel and food prices, was 13.8%. Month on month, CPI was up 1.5%. In its latest quarterly Inflation Report, released late in June, the National Bank of Hungary (NBH) said CPI may peak “in the autumn months”.




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