BUDAPEST, Feb 10 (Reuters) - Hungarian headline
inflation rose to an annual 25.7% in January from
24.5% in December, boosted by higher household energy, food and
fuel prices, the Central Statistics Office (KSH) said on Friday.
January headline inflation came in above market expectations
for a 25.2% increase.
Core inflation , calculated with a revised
methodology, accelerated to 25.4% from 24.8% in December, also
exceeding analysts' 25.0% forecast in a Reuters survey. Prices
increased by 2.3% from the previous month, the KSH said.
Average inflation for 2022 was 14.5%.
As of April 2021, the KSH no longer includes alcohol and
tobacco prices in its core inflation figure. The National Bank
of Hungary targets 3% headline inflation with a tolerance band
of a percentage point on either side.
Food prices rose by 44% year-on-year, household energy
prices jumped by 52.4% after the government curtailed utility
bill subsidies last year, while fuel prices rose by 35.9% after
a supply shortage forced the government to abandon year-long
price cap.
Consumer durables prices increased by 13.5%, while services
prices rose by 11.3%.
INFLATION (% change) Jan 2023 Dec 2022 Jan 2022
Headline CPI m/m 2.3 1.9 1.4
Headline CPI y/y 25.7 24.5 7.9
Core CPI y/y 25.4 24.8 7.4
(Reporting by Krisztina Than)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.