Hungary’s consumer prices up 0.1% y/y in March, below expectations.

By bne IntelliNews April 14, 2014

Hungary's consumer prices edged up by 0.1% y/y in March 2014, rising at the same pace as in the previous month, the statistics office said. The reading was below market expectation for a 0.2% y/y growth. On a monthly basis, consumer prices in the country increased by 0.2%, slightly faster than the 0.1% m/m rise in February.

As in the previous month, the reading in March was largely due to the government's decision in November 2013 to cut utility prices resulting in a 10% y/y drop in prices of electricity, gas and other fuels.

Prices of consumer durable goods extended their downward trend, falling by 0.2% on the year in March, reflecting continued weak household demand. Prices of clothing and footwear dropped by 0.4% y/y in March, following a 0.2% y/y decrease in February. Prices of motor fuels decreased by 1.1% y/y. Food prices dropped only marginally y/y in March.

On the other hand, prices of alcohol beverages and tobacco products rose by 7.9% y/y, easing from a 8.1% y/y hike in February. Costs of services advanced by 1.8% y/y in March, slower that the 2.1% y/y increase a month earlier.

Consumer prices, % y/y
	Mar-13	Dec-13	Jan-14	Feb-14	Mar-14
TOTAL	2.8	0.4	0.0	0.1	0.1
Food	4.1	0.1	-0.2	0.0	-0.1
Alcoholic beverages, tobacco	14.8	12.0	10.5	8.1	7.9
Clothing and Footwear	-0.4	-1.1	-0.4	-0.2	-0.4
Consumer durable goods	-2.3	-1.6	-0.8	-0.6	-0.2
Electricity, gas and other fuels	-7.7	-17.7	-16.9	-10.3	10.0
Other goods incl. motor fuels and lubricants	2.6	0.9	-0.6	-1.5	-1.1
Services	3.5	3.7	3.1	2.1	1.8
Source: KSH

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Hungary’s consumer prices up 0.1% y/y in March, below expectations.

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Hungary’s consumer prices up 0.1% y/y in March, below expectations.

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