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|
|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|
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