Hungarys August consumer price inflation speeds up to 6% y/y.

By bne IntelliNews September 12, 2012
Hungary's annual inflation accelerated to 6% y/y in August 2012 from 5.8% in the previous month, the statistics office KSH said. On a monthly basis, consumer priced edged up 0.1%, after declining 0.1% m/m in July. Excluding the effects from the tax changes, prices increased by 3.7% y/y in August, faster than Julys rise of 3.5% y/y. The annual price growth was driven by hikes in all groups comprising the index, with consumer durable goods the only exception (down 0.8% y/y). Prices of alcohol beverages and tobacco products increased by 14.1% y/y, extending an eleven-month growth trend. Their growth was considerably faster than the 2011 average of 0.5% y/y. The growth in food prices speeded up to 6.3% y/y in August. Costs in the group other goods grew 7.9% y/y, pushed up by higher motor fuel prices. Prices of electricity, gas and other fuels advanced 6.2% y/y on the back of an increase in prices of purchased heat (8.4% y/y) and butane and propane gas (9.4% y/y). Prices of services and of clothing and footwear grew less that the average, by 4.1% y/y and 3.5% y/y, respectively.
Consumer prices, % y/y
Jan-12 Mar-12 Apr-12 Jun-12 Jul-12 Aug-12 Jan-Aug 2012
TOTAL 5.5 5.5 5.7 5.6 5.8 6.0 5.7
Food 5.5 4.7 4.2 5.0 6.1 6.3 5.2
Alcoholic beverages, tobacco 6.7 10.8 12.6 13.8 14.1 14.1 11.6
Clothing and Footwear 2.8 3.6 2.0 2.3 2.6 3.5 3.0
Consumer durable goods -1.5 -1.4 -1.2 -1.0 -0.9 -0.8 -1.2
Electricity, gas and other fuels 6.4 6.8 7.0 6.7 6.3 6.2 6.8
Other goods incl. motor fuels and lubricants 8.5 8.6 9.1 7.6 7.1 7.9 8.2
Services 4.6 4.1 4.2 4.0 4.1 4.1 4.2
Source: KSH

Hungarys August consumer price inflation speeds up to 6% y/y.

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