2018.06.0803:45:00UTC+00Hungary Inflation Accelerates More Than Forecast

Hungary's consumer price inflation accelerated at a faster-than-expected pace in May to the highest level in fifteen months, figures from the Hungarian Central Statistical Office showed Friday.

The consumer price index climbed 2.8 percent year-over-year in May, faster than the 2.3 percent increase in April. Economists had expected the inflation to rise to 2.6 percent.

Moreover, this was the strongest inflation since February 2017, when prices had grown 2.9 percent.

Food prices grew 3.8 percent annually in May and costs for services went up by 1.7 percent.

On a monthly basis, consumer prices increased 0.6 percent from April, when it rose by 0.7 percent. The expected increase was 0.5 percent.