Core inflation , calculated with a revised methodology, picked up to 25.7% in March from 25.2% in February. Analysts expected a slowdown to 24.7% in a Reuters survey. Prices increased by 0.8% from the previous month, the KSH said. The KSH said the prices of electricity, gas and other fuels, and food prices jumped the most in annual terms.
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 42.6% year-on-year, household energy
prices jumped by 43.1% after the government curtailed utility
bill subsidies last year. Consumer durables prices increased by
11.2%, with prices of new cars jumping 20.7%, while services
prices rose by 13% in annual terms.
INFLATION (% change) March 2023 Feb 2023 March 2022
Headline CPI m/m 0.8 0.8 1.0
Headline CPI y/y 25.2 25.4 8.5
Core CPI y/y 25.7 25.2 9.1
(Reporting by Krisztina Than)
