2021.09.0808:39:00UTC+00Hungary Inflation Rises; Trade Balance Swing To Deficit

Hungary's consumer price inflation increased in August, data from the Hungarian Central Statistical Office showed on Wednesday.

Another report from the statistical office showed that the trade balance swung to a deficit in July due to a notable fall in exports.

The consumer price index rose 4.9 percent year-on-year in August, after a 4.6 percent increase in July. Economists expected the rate to rise 4.7 percent.

Price increases were measured for food, alcoholic beverages and tobacco as well as motor fuels, the agency said.

Price for food grew 3.7 percent annually in August. Prices of alcoholic beverages and tobacco, and services rose by 10.5 percent and 2.8 percent, respectively.

On a month-on-month basis, consumer prices increased 0.2 percent in August, after a 0.4 percent rise in the prior month.

Core consumer prices rose 3.6 percent annually in August and increased 0.3 percent from the previous month.

The EU measure of harmonized index of consumer prices, or HICP, rose 4.9 percent annually and gained 0.2 percent from the prior month.

The trade balance registered a deficit of EUR 193 million in August versus a EUR 186 million surplus last year.

Exports grew 10.0 percent year-on-year in July, after a 21.8 percent increase in June.

Imports increased 14.7 percent annually in July, after a 25.1 percent rise in the preceding month.