08.06.202311:53:00UTC+00Hungary Inflation Eases To 21.5%, Lowest In 7 Months

Hungary's consumer price inflation eased for the fourth straight month to the lowest level in seven months, preliminary data from the Hungarian Central Statistical Office showed on Thursday.

The consumer price index, or CPI, climbed 21.5 percent year-on-year in May after a 24.0 percent rise in April. Economists had forecast inflation of 22.3 percent.

The latest rate was the lowest since October last year, when it was 21.1 percent.

Headline inflation had peaked at 25.7 percent in January 2023.

Similarly, the core inflation that excludes volatile prices including those of alcoholic beverages and tobacco eased to 22.8 percent from 24.8 percent in the previous month.

That was also the lowest since October. Economists had forecast 23.3 percent core inflation.

Food price inflation moderated to 35.0 percent from 37.9 percent in April. The annual price growth for electricity, gas, and other fuels softened to 37.2 percent from 41.5 percent.

Prices for consumer durables and alcoholic beverages and tobacco grew by 8.1 percent and 19.3 percent, respectively. Service charges gained 14.3 percent.

On a monthly basis, consumer prices fell 0.4 percent versus a 0.7 percent rise in April.