Hungary's headline inflation picks up to 4.2% y/y in October.

By bne IntelliNews November 12, 2010
Consumer inflation sped up again, rising to 4.2% y/y in October, from 3.8% y/y the previous month, the statistics office (KSH) reported. Price dynamics of food, energy and fuel prices determined the overall upward trend in the month. In particular, the most pronounced increase registered the fuel prices, up by 6.6% y/y in October following international price growth trend. The growth of energy prices accelerated to 6.2% y/y, up from 5.5% y/y in September. Food prices increased by 5.3% y/y on the back of seasonal effects. On a m/m basis, they also increased by 1.5%, well above the average. Inflation of alcoholic beverages slowed down to 5.3% y/y in October. Cost of services added up 3.1% y/y, while CPI in consumer durable goods and clothing groups extended its downward trend. The core inflation, which excludes the impact of regulated prices and indirect tax rates, accelerated as compared to the previous month up to 1.8% y/y. We remind that the monetary authority put on hold a decision for easing of monetary policy on its latest rate setting meeting, considering the pressure on commodity prices and food prices.

Hungary's headline inflation picks up to 4.2% y/y in October.

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